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Climate change and energy use

We acknowledge the significant impacts of human-induced climate change on the environment, economy, and communities. As part of the global solution, MMG is committed to taking appropriate actions to reduce our emissions intensity and contribute to the development of a low-carbon future.  

ICMM member companies including MMG are committed to achieving net zero carbon emissions by 2050, aligned to international climate goals. We have also set an interim target for 2030 of reducing Scope 1 and Scope 2 greenhouse gas emissions from our operated assets by 40%, from a 2020 baseline. This interim target aligns with science-based methodologies to help reduce global warming to 1.5°C, as per ambitions of the Paris Agreement. We will also drive reductions in our value chain emissions (Scope 3) through initial measurement and disclosure, followed by target setting and working with our supply chain partners and customers on emission-reduction opportunities. 

Our focus on energy efficiency aims to decrease our existing power requirements and minimise our greenhouse gas emissions. Notably, renewable energy serves as one of the main sources of purchased electricity at our Las Bambas, Kinsevere, and Rosebery operations, and solar is a major source at our Dugald River operation with the recent commissioning of the Dugald River Solar Farm. This shift positively impacts our greenhouse gas emissions profile.  

We diligently report our energy use and greenhouse gas emissions of Australian operations in accordance with the Australian government’s National Greenhouse and Energy Reporting Act 2007, aligning with our materiality-based sustainability reporting processes. Our international operations report using the Greenhouse Gas Protocol.  We also disclose our climate information in line with TCFD reporting requirements, with our 2023 information available in our 2023 Sustainability Report.  

For more information about our approach to climate change and environmental data, refer to our Annual Reports. 

Climate resilience  

Due to the observed increase in frequency and intensity of extreme global weather events, MMG is improving our understanding of local and worldwide climate-related risks and building business resilience to respond to a changing climate through a yearly climate risk assessment exercise performed in each site according to the recommendations of the TCFD.  

We are pursuing decarbonisation efforts by optimising energy use and migrating to renewable energy sources. We welcome the progress made by governments to cooperatively reach the Paris Agreement and support long-term global climate goals, balancing greenhouse gas reductions with economic and social development. 

Demand for critical minerals and other base metals necessary for the decarbonisation of the economy has increased and is expected to continue growing in coming years. MMG plays a key role in providing these metals to our customers to drive the development of green technology that is replacing fossil fuels. 

The need to take tangible steps is becoming more urgent for governments, organisations and the wider public in the face of extreme weather events and the challenges this brings for food and water security. In addition to our investment projects that are assisting to build local capability where we live and work, we are planning to engage with governments and communities where we live and work to achieve these goals.