Nordgold Commits to Net Zero Carbon Emissions by 2050
London, United Kingdom, 18 March 2021 – The transition to a low carbon economy requires decarbonisation across all sectors. In support of the objectives of the Paris Agreement, Nord Gold UK Societas ("Nordgold" or the "Company"), the internationally diversified gold producer, has committed to achieve net zero CO2 emissions by 2050, in line with its Environmental Policy.
To meet this target, Nordgold will further develop its criteria for all new projects. This will include progressive new requirements for renewable power generation, green mining fleet and supporting vehicles, processing, and refining capacity. Projects with a life-of-mine reaching to 2050 and beyond will need a pathway to achieving net zero by 2050 whilst specific targets will be set for new projects with a life-of-mine not reaching to 2050 to ensure their contribution to achieving the overall objective of falling carbon emissions.
For example, at its Gross Mining District, Nordgold is also currently assessing grid connection options for the Tokko development project, with the intention to further extend grid power supply to the Gross and Taborny mine in the future, which will potentially enable the Company to meet its power requirements using environmentally friendly hydropower.
In 2021, the Company intends to develop medium-term strategic targets for reducing CO2 emissions at all its existing mines, which will help guide us through to net zero. Based on these targets in line with best market practices a special report with a road map to net zero will be developed to be released with financial results for full year of 2021 in 2022. It is further intended that those mid-term strategic targets would help inform the short-term KPIs for management.
Evgeny Tulubensky, Nordgold Chief Legal Officer and Director of ESG, commented:
“Our net zero ambitions are backed by immediate actions and new approaches to help us make measurable progress, ensuring the 2050 commitment is met. Nordgold continues to invest in the most advanced equipment and make operational improvements to ensure our projects are as efficient as possible today. While actively working on reducing our carbon emissions, we also have significant programmes in place to combat deforestation, and we are looking into how we can best enhance our carbon-offsetting approach.”
| Olga Ulyeva
Head of Corporate Communications
|Peter Ogden||Tel: +44 (0) 20 7250 1446|
Nordgold is an internationally diversified one million ounce gold producer with over 8,000 people operating a portfolio of ten mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas. Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner. Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.