RISK MANAGEMENT
of fibrous plants on old tailings dams to extract valuable metals
and chemicals that might leach into groundwater.
What will the eventual cost of climate change be – not only in
financial terms, but in the way mines will need to operate in
the future?
(ER): The financial cost of climate change to the mining
industry is difficult to estimate, but the cost will also be felt
in terms of changing mindsets within the current culture of
mining – as well as building new skill sets and collaborating
more effectively with stakeholders to address looming
challenges. Mining companies certainly need to be ready to
invest adequately in meeting these emerging demands. We
are seeing impacts in financing, especially the financing of
new coal projects and this may extend to other minerals where
these have a large carbon footprint.
As a consultant, what would you say to a new mining
company regarding taking climate change seriously and to
include it in their planning and business plan?
How will we be able to manage the effects of climate
change in the future?
(AM): The first step is to understand how climate change is
impacting on your mining operation – or may impact it in the
future. By undertaking a risk assessment, the company will
be able to quantitatively and qualitatively understand their
risk so the effects can be mitigated and managed in order to
adapt. In fact, the process is more about adapting – and less
about mitigating – because the impact of climate change
is already affecting industry. The risks identified should be
factored into the whole project lifecycle, not just current
operations. As a general principle, a less wasteful operation
will always have long-run benefits. Consideration should also
be given to facilitating change to alternative energy sources
and more water-efficient processes to improve the ability to
adapt to changing climactic conditions.
(AM): The effects of climate change on mining are already
evident, and mines are starting to take them seriously.
The key point for mines is to consider climate change in
their planning process, as there are considerable financial,
reputational, social and environmental risks to be addressed.
The lack of surface water in the arid regions of Africa will increasingly become a headache for mining companies.
References:
1. https://www.wwf.org.uk/updates/10-myths-about-climate-change
2. https://www.washingtonpost.com/news/wonk/wp/2017/08/29/houston-
is-experiencing-its-third-500-year-flood-in-3-years-how-is-that-possible/
3. BSR briefing document – Adapting to Climate Change: A Guide for the
Mining Industry – page 1. Web source: www.bsr.org/adaptation
4. https://climate.nasa.gov/evidence/
5. From website: https://climate.nasa.gov/evidence/ Main source: Levitus,
S.; Antonov, J.; Boyer, T.; Baranova, O.; Garcia, H.; Locarnini, R.; Mishonov,
A.; Reagan, J.; Seidov, D.; Yarosh, E.; Zweng, M. (2017). NCEI ocean heat
content, temperature anomalies, salinity anomalies, thermosteric sea
level anomalies, halosteric sea level anomalies, and total steric sea level
anomalies from 1955 to present calculated from in situ oceanographic
subsurface profile data (NCEI Accession 0164586). Version 4.4. NOAA
National Centers for Environmental Information. Dataset. doi:10.7289/
V53F4MVP
www. africanmining.co.za
African Mining Publication
6. https://www.jpl.nasa.gov/news/news.php?feature=7159
7. Accessed from: https://climate.nasa.gov/evidence/ Main reference:
https://nsidc.org/cryosphere/sotc/glacier_balance.html and https://
wgms.ch/
8. Accessed from: https://climate.nasa.gov/evidence/ Main reference: R. S.
Nerem, B. D. Beckley, J. T. Fasullo, B. D. Hamlington, D. Masters and G. T.
Mitchum. Climate-change–driven accelerated sea-level rise detected in
the altimeter era. PNAS, 2018 DOI: 1073/pnas.1717312115
9. http://www.pmel.noaa.gov/co2/story/What+is+Ocean+Acidification%3F
and http://www.pmel.noaa.gov/co2/story/Ocean+Acidification
10. C. L. Sabine et.al., “The Oceanic Sink for Anthropogenic CO₂,” Science vol.
305 (16 July 2004), 367-371; and Copenhagen Diagnosis: http://www.
copenhagendiagnosis.org/executive_summary.html
11. BSR briefing document – Adapting to Climate Change: A Guide for the
Mining Industry – pp 1; pp 4. Web source: www.bsr.org/adaptation
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