(Kitco News) - Alamos Gold (TSX: AGI) today announced its target of a 30% reduction in absolute GHG emissions by 2030 from the 2020/2021 average baseline year.
The company said that this target includes scope 1 and scope 2 GHG emissions, inclusive of all GHG emissions covered by the Kyoto Protocol, adding that this is a significant milestone in Alamos' sustainability journey and considered a credible target by definition of the Carbon Disclosure Project.
Importantly, Alamos pointed out it is already an industry leader in GHG emission intensity with an average of 0.38 tCO2e per ounce of gold produced across its three operating mines (base year 2020/2021), 43% lower than the mining industry average of 0.67 tCO2e per ounce of gold.
"The 30% absolute reduction in GHG emissions will decrease Alamos' emission intensity by 55%. This includes the development of the Lynn Lake project, which is expected to begin producing within the target period," the company said in a statement.
Alamos added it reviewed and costed over 30 different GHG emission reduction opportunities across the organization and utilized a Marginal Abatement Cost Curve to prioritize the projects that will support the achievement of its emission reduction target.
The company also noted that options investigated included renewable energy and clean grid capacity, green fleet (hybrid or battery electric vehicles), electrification of process, conversion to cleaner fuels, and others.
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Alamos Gold is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. Additionally, the company has a portfolio of development stage projects in Canada, Mexico, Turkey, and the United States.
