Karora Resources Inc, the Australia-focused gold miner, has outlined the first steps in its long-term emission reduction strategy, saying it will achieve carbon neutrality in 2021 for its own operations and purchased electricity consumption.
The gold producer said it has achieved this through the purchase and retirement of 80,000 tonnes of verified carbon offset credits.
"To be among the world's first carbon-neutral gold producers is an exciting achievement for Karora and in line with our commitment to develop a pathway toward a True Net Zero mining future," said Paul Andre Huet, the group's CEO in a statement.
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Karora, through its partnership with The Net Zero Company, selected a range of offset projects in order to support a diversified basket of important carbon offset projects ranging from renewable projects to reforestation in Australia.
"Our decision to invest in a reforestation project in Australia was a direct result of both our geographical community focus and an effort to help the nation recover from the devastating bushfires of late 2019 and early 2020. Through this project, we are both offsetting our Scope 1 and 2 emissions as well as ensuring the protection of Australia's unique biodiversity," said Huet, who added the announcement was one of "many steps" in the company's broader strategy of reducing its greenhouse gas (GHG) emissions.
"As we progress this work, we will be setting annual reduction targets for our operating business units. Our goal is to continue to be a sector leader amongst our junior gold mining peers with our initial focus on Scope 1 and 2 emissions reductions and ultimately reducing our Scope 3 emissions to achieve True Net Zero emissions status," added the CEO.
In Australia, the Mount Sandy Conservation project involves the protection of a 200 hectare strategic habitat with replanting of over 30 species of native vegetation including tree cover.
Karora is focused on doubling its gold production to 200,000 ounces by 2024 compared to 2020 and reducing costs at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations (HGO) in Western Australia.
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