Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUDGF) announced Tuesday it aims to achieve carbon neutrality within the next eight years.
The Vancouver-based mining company says it plans to offset greenhouse gas emissions from its Fruta del Norte gold mine in Ecuador to achieve net-zero emissions by 2030.
In a news release, Lundin Gold reported Fruta del Norte currently has an emissions intensity of 0.06 tonnes of carbon dioxide equivalent per ounce of gold produced. The company says that ranks among the lowest of any underground gold mine that reported emissions data for 2021.
Lundin Gold says it has identified measures to directly reduce emissions at Fruta del Norte and will work to implement them to achieve carbon neutrality within the next eight years.
“With its incredibly low carbon footprint, Fruta del Norte continues to prove itself as a world-class asset,” CEO Ron Hochstein said.
“Through our commitment to carbon neutrality by 2030, Lundin Gold is determined to maintain its position as one of the world’s lowest carbon intensity gold producers.”
Read more: Lundin Gold uncovers three new targets at Fruta del Norte
Read more: Calibre Mining delivers first shipment of Eastern Borosi ore at La Libertad mill
Net zero emissions by 2030
The company also published its 2022 sustainability report, which says Lundin Gold achieved an industry-leading health and safety record last year and spent $37 million on local procurement in communities around Fruta del Norte.
The report says Lundin Gold’s education support program has helped 260 local students enroll in higher education since 2015.
Lundin Gold operates Fruta del Norte, which poured its first gold in November 2019. The mine is expected to produce 340,000 to 370,000 ounces of gold this year. The company also said that 95 per cent of water at the site is being reused or recycled.
Company stock dropped by 1.17 per cent to $16.70 on the Toronto Securities Exchange.
Other Canadian companies operating in Latin America include Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) which recently delivered the first ore cargo from its Eastern Borosi open pit mine to its Libertad processing plant in central Nicaragua.
Last April, the company began mining from the high-grade Guapinol open pit with a reserve grade of 6.8 g/t gold and ore deliveries to the Libertad mill started mid-May after starting operations earlier in the month.
