16th Dec 2021 13:46
Antofagasta PLC - copper producer in Chile - Aims to achieve carbon neutrality by 2050, in line with Chile's national commitment. Targets a 30% reduction in direct and indirect emissions by 2025, compared to its 2020 baseline. Says this will be equivalent to a reduction of 730,000 tonnes of CO2. All of its mining operations will switch from conventional sources of power supply to renewables by end 2022. Agrees to participate in evaluating the feasibility of HyEx, a project led by French utility Engie SA and Chilean explosives maker Enaex, to produce green ammonia in northern Chile. Targets to increase seawater usage in copper production to 90% from 43% by 2025. Notes that it is working to replace diesel with cleaner fuel such as hydrogen. Adopting the recommendations of the Task Force on Climate-related Financial Disclosures.
"Climate change is one of the greatest challenges facing society and our company today. As a copper producer, Antofagasta can address this challenge both by decarbonising its operations and by responsibly and sustainably providing a key commodity for the transition to a low-carbon economy," Chief Executive Ivan Arriagada comments.
Current stock price: 1,351.50 pence, up 3.3% on Thursday
Year-to-date change: down 6.2%
By Abby Amoakuh; [email protected]
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