Responsible for around 4 to 7% of greenhouse gas emissions globally, the mining industry is under increasing pressure to decarbonize.
However, many are concerned about the speed of progress – and worry about how to balance sustainability efforts with maintaining financial health.
For a recent report, we surveyed 100 North American mining executives to uncover what needs to be done, where technology can help, and how the sector can transform while remaining financially viable.
Tech for the win
Vehicle electrification is central to mining's decarbonization efforts – something our North American respondents were aware of, with 73% saying vehicle electrification has the greatest potential to increase efficiency and sustainability.
On top of this, 44% said they’re planning to decarbonize their haulage fleet by 2026, and 71% said they plan to electrify at least 25% of their fleets by 2030.
More positive news is that many companies are now proceeding with electrification technology. Canadian company Nouveau Monde Graphite is planning a project set to run entirely on electric power from the outset. Brownfield operators like Hudbay’s Copper Mountain Mine are upgrading their fleets to make the most of electrification. And ABB is supporting the Rhyolite Ridge Lithium-Boron Project in Nevada, the only known lithium-boron deposit in North America, to enhance efficiency and digitally transform.
Elsewhere in our research, 78% of our respondents said ventilation is key for enhancing efficiency and sustainability in mining operations, compared to 48% globally. And just over half (51%) said they’re prioritizing ventilation innovation over the next 5 years.
That said, there are some barriers to innovation: many are worried about disruption, with 43% saying this is a key concern. While significant, this figure is lower than in Europe, where 53% said the risk of disruption to operations and production was a concern.
Power to the people
Mining can’t decarbonize without the right people in place, as shifting to new technologies takes specialized knowledge.
Our North American respondents recognized this challenge, with 43% identifying a lack of expertise and skills as a major barrier.
But while the skills gap remains a hurdle, the majority (72%) believe that innovation and technology could help drive diversity and create opportunities, especially for Gen Z. Additionally, 70% are committed to reskilling and training their current workforce.
Let’s collaborate
Decarbonization is a journey that requires collaboration, especially when dealing with workforce shortages.
Considering this, perhaps it’s little wonder why the vast majority (70%) of our North American respondents agreed that expert integrators, or key technical suppliers (KTS), are vital.
Integrators and KTS guide the planning and implementation of new technologies. They bring technical knowledge, experience, and a holistic understanding of the mining ecosystem. It’s their job to ensure the decarbonization journey is as seamless as possible.
Mining’s moment is now
In North America, only 73% of mining companies are confident they will reach their 2050 sustainability targets (compared to 78% globally). But many are optimistic about the future – with 77% agreeing significant decarbonization can be achieved using existing technologies.
Given its strategic importance and the pressing demands of climate change, the time for mining to decarbonize is now. After all, metals and minerals are essential for a greener future. From lithium to cobalt and rare earth metals, the critical components of renewable energy technologies depend on mining. North American mining companies must therefore act swiftly, align with sustainability goals, and ensure they play a pivotal role in the global transition to a low-carbon economy.
Are you ready to seize mining’s moment?
