Atlantic Copper green credentials recognised by Spain's BBVA
LONDON – Spanish copper producer Atlantic Copper recently agreed deals to borrow €19-million to finance six projects intended to cut the company's energy use and reduce emissions, its managing director Javier Targetta told Reuters.
Sustainability has been a long-standing issue in metals, covering a range of topics including corruption, governance, communities around mines and mine waste.
But environmental concerns have moved to the top of the agenda in recent years with heightened awareness of climate change amid public protests.
Metals and mining are responsible for 10% of the total impact on climate change, according to the United Nations Environment Programme.
The "green" loans along with credit lines of €25-million were agreed with Spanish bank BBVA earlier this year and recognise Atlantic Copper's efforts to cut energy consumption at its smelter in Spain.
"We have greatly reduced our energy consumption through innovation and we are looking to cut even further by, for example, recovering heat and turning it into power," Targetta said during London Metal Exchange Week.
"We are also looking for opportunities in the circular economy, looking for ways to recycle a variety of materials."
Targetta said the credit line was in recognition of meeting environmental, social and corporate governance standards as assessed by French rating agency Vigeo Eiris.
According to consultancy Wood Mackenzie, the Atlantic Copper smelter is one of the world's most efficient in terms of energy consumption per unit of copper in concentrate.
"The smelter has a dedicated department that supervises energy efficiency, plans and programmes to follow their performance in this regard throughout the year," Wood Mackenzie analyst Leonardo Meza Standen said.
Owned by Freeport McMoRan, Atlantic Copper produces around 300 000 t of copper a year. About half of that is for local consumption and the rest is exported.
BBVA's website says the bank plans to deploy €100-billion in green financing and sustainable infrastructure between 2018 and 2025.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation