ENVIRONMENTAL IMPACT AND COMMERCIAL REALITIES FOR MINES

In this interview, Chelsea Hayes, Director of Business Development, North Peak Resources, discusses that a mine’s environmental impact must be evaluated alongside commercial realities and cost management, both of which are central to the profitable success of a mine and delivering returns to shareholders.

ENERGY AND MINES: What are some of the most significant changes for the mining industry as a result of the increased focus on ESG and climate performance?

CHELSEA HAYES: The availability of appropriate knowledge, equipment, and options has increased enormously in the last ten years in line with the rising focus on ESG and climate performance.

When our team developed and introduced the first underground battery equipment to a mine up at the Macassa project in Kirkland Lake in 2012, the challenge was to find companies that would work together to develop equipment that actually worked.

Now, companies have multiple suppliers and options for powering their mines and the challenge is evaluating the most efficient technology for the life of the project they are investing in.

E+M: What are some of the challenges of trying to balance climate and ESG commitments with mine production, expansion, and commercial realities?

CH: As a price-taking industry, commercial realities and cost management are central to the profitable success of a mine and delivering returns to shareholders.

We are a company that is continually evaluating potential projects. A part of our strategy includes assessing the environmental impact of any potential mine development; therefore, our team favors former historical mines with some existing infrastructure and also the potential of renewable energy which may impact the cost profile of the operation. However, these significant capital investments must be able to deliver a return over the life of the mine, so it is not only the location of the asset that affects this decision but also the size of the resource. team on putting together a group of companies to deliver the battery equipment to the Macassa underground operation. That decision was appreciated by various stakeholders, including those in favor of the safety of workers, not just those focused on ESG commitments.

E+M: Which technologies are expected to be critical in meeting Scope 1 and Scope 2 carbon emissions goals for mining?

CH: Of course, mining itself is a crucial industry to delivering those technologies – and the availability of these technologies, particularly to smaller companies - could well be dependent on the mineral supplies themselves.

The choice of technologies that will help mining companies meet their emissions goals is project-dependent, and our group starts by focusing on historic mines that have access to existing infrastructure thereby diminishing the initial footprint. One of our sister companies, Rupert Resources, is based in Finland, with direct access to a supply of renewable energy.

The choice also differs for open pit mining, where conveyors may be a way of diminishing diesel usage versus underground mining projects, which can benefit from both electric vehicles and electrification.

E+M: Who are you looking forward to connecting with at the Energy and Mines Toronto Summit on November 1-2 at the Delta Toronto?

CH: After the gap of the last two years, I greatly appreciate the opportunity to meet people face to face. So, meeting and connecting with new faces, and learning from everyone, will be a priority.

Chelsea Hayes is speaking at the Energy and Mines Toronto Summit, Nov 1, 4.30 PM on the panel Key Considerations for Renewable Energy Hybrids for Mines.