ECORA RESOURCES PLC MINING is essential for a sustainable transition to a greener future, argued
He told City A.M. investment and production of commodities such as copper, nickel, cobalt and lithium for electric vehicle batteries and renewable technologies such as wind turbines were essential to meeting consumer demand as economies shift from fossil fuels.
Lefleche said: "There is a fundamental intersection of the global climate change objectives and the mining sector. The reality is without the supply of the raw materials and commodities like copper, nickel, cobalt, lithium, and others it's just not going to be possible to meet global net zero targets."
The portfolio boss argued that the mining sector is producing commodities in a more sustainable way, and that it can go hand in hand with decarbonisation plans.
He highlighted the company's portfolio of nickel exposure, which sits amongst the lowest emitters of carbon per unit of nickel produced in the world.
He said: "In other words, it's not just a matter of supplying the goal to the battery manufacturers to produce electric vehicles (EVs). It's also about producing that nickel in the first place with a very low carbon footprint to really magnify the benefits on the electrification trend."
The company has shifted in recent years from coal projects and fossil fuels to more projects focusing on the transition to renewable energy and a greener future.
By 2040, it estimates that mineral demand from clean energy technologies could potentially quadruple, with EVs and battery storage driving mineral growth.
Yesterday, it posted robust half-year results for the first six months of trading this year, with a record portfolio contribution of £78.5m powered by a commodities boom. This is 303 per cent higher than this time last year (£19.4m) and 8.4 per cent higher than the whole of 2021 (£72.43m).
(c) 2022 City A.M., source
