Chilean Miners Working Towards Carbon Neutrality

Major mining companies in Chile have set carbon emissions reduction goals for the next decade to contribute to Chile’s efforts to be carbon neutral by 2050. The 13 companies who have set targets account for 97% of the copper produced in Chile.

• Anglo American and BHP will aim to reduce their global carbon emissions in 2030 by 30% compared with 2016 and 2020.
• Anglo American seeks to be carbon neutral by 2040 while BHP plans to be so in 2050.
• Teck Resources plans to cut its emissions by 33% by 2030, compared to 2019, and reach carbon neutrality by 2050.
• Codelco is aiming for a 70% reduction in emissions by 2030 compared with 2020.
• Rio Tinto plans 15% cuts in all emissions compared to 2019.
• Freeport McMoRan is aiming for a 15% reduction in emissions related to copper cathodes by 2030 compared to 2018 and zero emissions from electricity use at its El Abra mine by 2021.
• Barrick is committed to reducing by at least 10% its carbon emissions.
• Antofagasta Minerals seeks to cut CO2 emissions by 300,000t by 2022 compared with 2017.
• Caserones aims to cut all emissions related to electricity consumption starting in 2021.
• KGHM plans to reduce by 40% emissions from its Sierra Gorda mine in 2021 and by 100% by 2023.
• Lundin’s Candelaria is committed to at least an 80% reduction in emissions related to electricity use by 2023.
• Collahuasi plans to reach 100% by 2040.
• Glencore plans to reduce its global emissions by 40% by 2035 and wants to be carbon neutral by 2050.

Miners in Chile have been able to cut carbon emissions to date by tapping into the abundant renewable energy that is increasingly being generated in the North of Chile.

In order to cut emission further, companies will need to look at electrifying their fleets, green hydrogen, and will be increasingly looking at ways to improve carbon neutrality in their supply chains.

We will be digging deeper into these factors over the next week in further blogs to help companies understand future opportunities. 

ax.legal and Business Consultancy is located in Chile with partners throughout the Latin American Region. Our team of legal and commercial advisors have a distinguished track record of helping foreign technology and services companies with their growth and operations in Latin America. 

To better understand how we can support you in the Region, please contact Cody Mcfarlane at cmm@ax.legal