Karora plans to become a leader in GHG reduction among junior gold miners
Karora said it will work with NZC to seek to ensure its approach to setting and achieving greenhouse gas (GHG) reduction targets is inline with best practices based on available science to achieve the aspirations of the Paris Agreement. As the program is further outlined and targets are identified, updates will be provided to the market.
Karora's initial focus will be on Scope 1 and 2 emissions reductions, followed by Scope 3 emissions reductions to work toward its goal of reaching True Net Zero (Scope 1, 2 and 3) status. Progress on the GHG reduction program will be included in Karora's inaugural ESG Report which is expected in early 2022.
Karora added that its early efforts with regards to GHG emissions reductions at site are underway. The phased replacement of the aged haul fleet at Beta Hunt with new AD60 haul trucks has led to a reduction in total GHG emissions, while improving productivity and output as reflected by the operational deliveries over the last year.
The company intends to disclose the results of its GHG emissions inventory assessment, including all Scope 1 and 2 emissions, on its website. Once a pathway is developed, Karora aims to set interim GHG reduction targets as part of its reduction program. The company will then report annually on progress towards reaching interim and net zero GHG reduction targets.
Karora added it has engaged third party renewable power experts to evaluate the use of solar and other renewable strategies to reduce GHG emissions at its operations. If viable, these solutions have the potential for multiple benefits including reduced exposure to highly variable diesel prices, grid power pricing fluctuations as well as potentially lowering overall average power costs.
Karora is focused on growing gold production at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations in Western Australia. The company also owns the high grade Spargos Reward project which is anticipated to begin mining in 2021.