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Miner Kenmare is on track to reduce emissions by 12 percent by 2024

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Irish mining company Kenmare Resources reduced its energy intensity, hired more women and improved its health and safety record in 2021.

The company operates one of the world’s largest ilmenite mines, Moma, in Mozambique. Ilmenite is used in paint and paper making, and in the manufacture of titanium.

According to its 2021 sustainability report released on Friday, the company aims to reduce carbon emissions by 12 percent by 2024, with the board confirming its target of being net zero by 2040.

Kenmare has begun an $18 million investment in a power generation project that will result in a 12 percent reduction in greenhouse gas emissions from diesel use by 2024, it said.

In 2021, Kenmare’s emissions intensity decreased by 20 percent to 0.057 tonnes of carbon dioxide equivalent (tCO2e) per tonne of finished product in 2021, from 0.071 tCO2e in 2020.

Over 90 percent of electricity demand in 2021 was generated from renewable (hydro) sources, the same level as in 2020.

At the Moma mine, 97 percent of workers and 83 percent of management are Mozambicans, while the number of women employees at the mine has increased to 12.5 percent of the workforce from 10.6 percent in 2020.

Kenmare reported a record reduction in hours lost to injury of 0.03 per 200,000 hours worked in 2021, an 88 percent improvement compared to 2020.

Kenmare said it has rehabilitated 198 hectares of mined land, up from 181 hectares in 2020, and invested $2.3 million in local communities through the Kenmare Moma Development Association, up from $2 million in 2020.

Kenmare’s finance director, Tony McCluskey, recently told the Irish Independent that the company is open to potential acquisitions but has yet to see anything that matches the potential of its ilmenite mine in Mozambique.

The mine also produces zircon and rutile. Zircon is widely used in the manufacture of ceramics.

Ilmenite and rutile prices have risen sharply over the past year and have continued to rise in 2022 with demand exceeding Kenmare’s supply capacity.

While Moma has an expected lifespan of more than a century, Mr McCluskey confirmed takeovers remain on Kenmare’s radar.

Kenmare announced full-year results last month and said its revenue rose 87 percent to $456 million, while after-tax profit increased six-fold to $128.5 million.

https://www.independent.ie/business/irish/miner-kenmare-on-track-to-reduce-emissions-by-12pc-by-2024-41533019.html Miner Kenmare is on track to reduce emissions by 12 percent by 2024

Fry Electronics Team

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