Benefits of renewable energy in mining

A commitment to renewable energy can help to improve the stock price of mining companies, says a new report from Dr. Thomas Hillig Energy Consulting (THEnergy).

With energy costs in mining increasing, the use of wind and solar energy at minesites – particularly remote minesites – can reduce energy costs considerably: according to the report, “the business case for renewable energy is normally positive for mining companies; nevertheless, mining companies are a long way away from making in into [the] EPA’s “National Top 100 List” of US green power users.”

Moreover, with the mining industry – and especially the coal industry – facing increased public opposition and calls for major investors to divest, investment in renewable energy can have a positive impact on the corporate image.

“Mining companies that actively move towards renewable energy self-consumption show that they have realized that the world around them has changed and that there are threats regarding energy costs and environmental movements,” said Dr Thomas Hillig, founder of THEnergy and the report’s author. “Mining companies that re first movers in actively integrating renewables into their energy mix are there considered as progressive and better managed.”

“Ambitious targets and transparency grant first movers many advantages in communication,” concluded Dr Hillig. “If substantial measures are taken and financial markets are targeted with the sustainability communication strategy, a positive effect on the market evaluation and stock prices [of mining companies] can be expected.”

Written by Jonathan Rowland.

Read the article online at: https://www.worldcoal.com/power/19112014/world-coal-renewable-energy-can-boost-a-mining-companys-bottom-line-coal1591/