Karora Resources Inc (TSE:KRR) has said it will work with The Net Zero Company to aid Karora’s objective of becoming one of the world's first net-zero greenhouse gas (GHG) junior gold miners.
The company said the duo will collaborate on a pathway and develop set targets towards a true net-zero mining future. The primary goal will be setting GHG emissions reduction targets based on science-based methodologies.
The Australian-focused precious metal’s junior plans to build upon the ESG program that it is already developing, and expects to deliver its inaugural ESG report in early 2022.
READ: Karora Resources discovers more high-grade gold at its Beta Hunt Mine in Australia
"Mining is a critical part of the global response to climate change not only with respect to the supply of key materials required for the low carbon transition but also with respect to reducing greenhouse gas emissions at mine sites,” Paul Huet, chairman and CEO of Karora said in a statement.
He went on to note that the company is committed to lead a transition across the mining sector which is known as being carbon-intensive.
Presently, Karora is working to grow production and reduce costs in an energy-conscious way at its integrated Beta Hunt gold mine and Higginsville gold operations in Western Australia.
"Partnering with a top-performing gold mining company like Karora is a momentum builder for The Net Zero CompanyTM,” said Andre Fernandez, CEO of The Net Zero Company. “The operational and corporate turnaround executed by Karora over the past two years has been best-in-class and we are impressed by their pioneering attitude towards becoming one of the world's first net-zero junior gold miners: a sector defining moment.”
In line with its GHG reduction targets, Karora has implemented the phased replacement of the haul fleet at Beta Hunt with new AD60 haul trucks, a move that has also improved productivity.
Additionally, Karora has worked with a renewable power expert to explore the use of solar and other renewable energy options at its projects.
The gold company plans to report on its GHG goals annually once the pathways and targets have been defined.
Later this year, Karora plans to begin mining at the high-grade Spargos Reward project, located in the same region of Australia.
Contact the writer at georgia@proactiveinvestors.com
Follow her on Twitter @MissInformd