ProAsianGold Releases Gold and Climate Change Report

Industry: Business

Recent discoveries emphasize the potential for gold mining to achieve net-zero through the energy transition

Zhengzhou, China (PRUnderground) January 13th, 2023

ProAsianGold (ISIN: CN3475392059), a leading, growth-focused gold mining company that is consistently generating superior returns, dedicated to delivering on its values and promises, and always focused on improving its environmental, social and governance performance, announced today the release of its “Gold and Climate Change” report, which examines the energy shift in gold mining and its impact on the climate in the upcoming years. Investors and industry stakeholders should now have a clearer understanding of gold’s greenhouse gas emissions profile and potential net-zero pathway.

ProAsianGold has looked more closely at the opportunities for the gold mining industry to decarbonize its power sources in this new analysis, which was created in collaboration with energy and mining experts. This could enable the industry to reduce its emissions at a scale and pace necessary to meet climate targets.

The report assesses the effects of reducing gold mining’s power emissions by 2030 in order to determine what would be necessary in order to be consistent with the target of “well below 2ºC” acknowledging that action is required over the next decade if net zero carbon targets are to be feasible.

According to the gold mining industry’s current situation and known future aspirations, by 2030, the intensity of emissions produced by the power needed to produce gold is expected to decrease by 35%. This decline is based on the grid’s ongoing decarbonization, initiatives of gold mining companies to switch from directly generating electricity on-site using fossil fuels to grid connectivity and greater use of renewable energy sources, as well as significantly lower output from high-emission mines.

“Although climate change is a problem for the entire world, it also presents a chance for the gold mining industry to cut greenhouse gas emissions by switching to renewable energy sources, which benefits all stakeholders as well as the environment. Even if we still have a long way to go, as a sector we are proud of the advancements we have made in recent years and the ongoing work to switch our energy sources”, said Ao Wu Danian, Director of Corporate Social Responsibility at ProAsianGold.

About ProAsianGold is a leading, growth-focused gold mining company that has a reputation for consistency and reliability. The company’s operations deliver superior operational execution by managing safety risks to reach zero harm, continually improving operational performance and meeting commitments without fail. ProAsianGold is sustaining a global portfolio of long-life assets by executing profitable expansions and investing in early-stage prospects with a goal to grow margins, reserves and resources. The company’s business model is a leading one in the industry, delivering profitability and responsibility through consistently generating superior returns, demonstrating its values, and leading in environmental, social and governance performance.

About ProAsianGold

ProAsianGold is a leading, growth-focused gold mining company that has a reputation for consistency and reliability.

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