Climate change and sustainability as drivers for the next mining and metals boom

Abstract

To avoid passing the Paris Agreement's proposed 1.5–2 °C global temperature rise and achieve the United Nations Sustainable Development Goals (UN SDGs) to reduce poverty, a rapid and sizeable investment in decarbonisation of energy systems, infrastructure and the built environment is needed. Many low-carbon sustainable technologies are more metal-intensive than current high carbon equivalents. Analysis of the increased demands of the transition to the low-carbon economy shows it could lead to the next mining and metals boom increasing metals demand by up to 10-fold by 2050. This major opportunity for the sectors will occur in tandem with additional climate change challenges. The industries will need to increase resilience to extreme events. Declining ore grades require greater energy input for extraction and processing so new methods to avoid associated emissions are required. While oil, gas and coal demand for energy consumption is projected to fall, non-fuel use of those resources will continue to have low-carbon alternative uses. Importantly, adaptation and mitigation opportunities have co-benefits. Profitable opportunities exist for the resource sectors to contribute to meeting the Paris Agreement and UN SDGs. A roadmap is presented that provides a synthesis of adaptation and mitigation strategies towards a climate-smart mining and recycling (CSM&R) strategy.