Rikh's Blog

Mining is never associated with any form of environmental friendliness let alone environmental sustainability. However, this is what mining companies like Barrick Gold Corp are hoping to achieve. The article from the Globe and Mail dated on November 15th 2011 informs us that mining companies are now taking the initiative to go green by investing in clean power such as wind and solar energy. Although their intentions were good, it was mainly driven by the fact that they do not have to rely on the power grid and hence cut their power consumption costs and ease the load of the national power grids.

I personally feel that this is a good investment and a good step for the companies to take. This is because although the actual act of mining is far from being environmentally friendly, investing in renewable energy would definitely see a reduction in operation costs as well as more stability as prices of fossil fuels are volatile. Furthermore, this sets an example for larger scale raw mineral extraction companies to make an effort to reduce their carbon footprint. A environmentally conscious company also helps with the company image and might encourage further investment.

Barrick's Punta Colorada wind farm in Chile

Link to Article: http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/miners-turn-to-renewable-energy-to-cut-costs/article2237420/