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Industry Updates

‘Waiting is Not an Option’

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Responsible for 4 to 7 percent of greenhouse-gas (GHG) emissions globally, the mining sector is under pressure from many sides to make reductions.

That’s not a simple task, but McKinsey & Company recommends the industry focus on three areas: its assets most at risk from physical climate change, how decarbonization could shift demand for key minerals and how miners can decarbonize their own emissions. The global consultant spells out its advice in a new report, “Climate Risk and Decarbonization: What Every Mining CEO Needs to Know.”

“Mining is no stranger to harsh climates — much of the industry already operates in inhospitable conditions,” McKinsey writes. “But forecasts of hazards such as heavy precipitation, drought and heat indicate these effects will get more frequent and intense, increasing the physical challenges to mining operations.”

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