It’s a weird world when miners are starting to put pressure on their customers to use their minerals in an environmentally sustainable matter — and that may be a boon for battery minerals.
BHP has renewed to put pressure on customers over their own emissions, according to The Australian, as chief executive Andrew Mackenzie labelled climate change an “existential” threat during a speech in London last night.
“We must also face the challenges that come with these benefits [of coal and oil], because the world’s dependence on fossil fuels carries risks with it that could be existential,” he was quoted as saying.
“Previous events when CO2 was added to the atmosphere more slowly, and sometimes in similar amounts, show us what may happen if we do not act.
“These events coincided with mass extinctions and major rises in sea level. And they also suggest that future heating will more likely be towards the upper end of forecasts.”
While Mackenzie suggested that there were still environmental drawbacks on alternate sources of power such as renewables, these are nowhere near the level of drawbacks associated with fossil fuels.
The speech reportedly revealed a push from BHP to pressure customers to reduce their own energy use.
For example, while BHP exports iron ore, the energy needed to convert that into steel is huge — and often uses thermal coal.
While it’s just one miner pushing to reduce “scope three” emissions (emissions from end customers), it signals a broader push within mining to use environmentally friendlier sources of energy where possible.
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