Barrick Advances Clean Energy Transition Across Global Operations
Barrick’s commitment to reducing greenhouse gas (GHG) emissions is gaining momentum as it reaches key milestones in its transition to clean energy.
The commissioning of 50% of the TS Solar Power facility at Nevada Gold Mines (NGM) in April signifies a significant step forward in its greenhouse gas reduction roadmap.
With an initial energy-producing capacity of 100 megawatts, the solar facility began supplying power to NGM’s operations in April.
Upon completion of the second phase in the second quarter of 2024, adding another 100 megawatts, the solar array will meet 15% to 20% of NGM’s annual power demand.
This will result in an 8% reduction in NGM’s annual GHG emissions and a 5% reduction in Barrick’s overall GHG emissions against a 2018 baseline. The U.S. government provided vital support for this renewable project with a $35 million tax benefit.
NGM is committed to achieving a 20% carbon reduction by 2025, facilitated by the TS Solar facility and the modification of NGM’s TS Power Plant to utilize cleaner burning natural gas.
Next on the agenda for NGM is the development of an additional solar power facility with a battery energy storage system (BESS) to serve as a secondary power source, enhancing renewable energy consumption and mitigating power grid disruption.
In Mali, at the Loulo-Gounkoto complex, solar energy usage is on the rise, with a 72-megawatt solar power facility and 38-megawatt BESS now connected to the micro-grid.
Solar power accounted for 28% of the total energy blend in the first quarter of 2024, resulting in a $6 million reduction in energy costs compared to heavy fuel oil.
In the Democratic Republic of Congo, Kibali’s reliance on hydropower stations significantly reduces energy costs, with plans to expand the solar plant to increase renewable energy usage during the rainy season.
In Argentina, the Libertadores powerline from Chile’s national grid is supplying renewable power to Veladero, reducing GHG emissions and improving cost efficiencies. Additionally, a solar plant project at Pueblo Viejo in the Dominican Republic is underway.
With a target of a 30% reduction in GHG emissions by 2030 and the ultimate goal of achieving net-zero emissions by 2050, Barrick is at the forefront of driving sustainability in the mining industry through its commitment to clean energy initiatives.
