Global gold producers cut combined Scope 1 and 2 greenhouse-gas emissions to below 30-million tons of COâ‚‚ equivalent in 2024, the lowest level in a decade. With gold prices reaching fresh all-time highs, the environmental, social, and governance (ESG) awareness for the mining sector is one of the metrics in focus.
According to the Gold ESG Focus 2025 report by Metals Focus released on Thursday, absolute emissions from the industry's top miners fell 2% year-on-year to 29.9 million tons COâ‚‚e, the fourth consecutive annual decline.
"The reduction reflected asset divestments, renewable-energy projects and new grid connections, although lower gold output meant average emissions intensity increased for the third straight year," said Sarah Tomlinson, Metals Focus mine supply director. Scope 3 emissions, by contrast, rose 2% to 26.2 million tons, showing the challenge of tackling downstream impacts.
The report zooms in on renewable adoption, with Barrick (NYSE:B) and Newmont's (NYSE:NEM) Nevada joint venture commissioning a solar facility expected to cut 234,000 tons COâ‚‚e annually. Furthermore, AngloGold Ashanti (NYSE:AU) connected its Geita mine in Tanzania to the national grid, while Kinross (NYSE:KGC) reduced diesel use at Bald Mountain.
Still, challenges persist. Solidcore Resources in Kazakhstan lost access to renewable power, showing how fragile decarbonization pathways can be.
Energy usage within the industry is uneven. While average intensity remains stable at around 9.3 gigajoules per ounce, it is nearly one-third higher than a decade ago. Meanwhile, renewables are lagging – supplying only 10 percent of the sector's electricity. The US and Australia show promise in electrification efforts, but most African and Latin American projects hang onto the use of fossil fuels.
Safety performance, however, deteriorated. Fatalities across the 14 companies analyzed rose to 27 in 2024, up from 24 the prior year. More than half occurred in underground operations in Africa, where seismic events and fall-of-ground accidents are prevalent.
"Mining is inherently hazardous, with potential for fatal and life-altering injuries," Metals Focus consultant Michael Bedford said. "The industry is committed to a ';zero harm' objective, but continuous improvement in practices is essential." Northern Star (OTCPK: NESRF) and B2Gold (AMEX:BTG) extended their fatality-free records to 11 and 9 years, respectively, but eight firms reported fatalities, reversing two years of improvement.
Tomlinson noted sulphur dioxide and nitrous oxide emissions fell 16% and 8%, respectively, reflecting progress on non-carbon pollutants. Yet broader sustainability metrics point to mounting headwinds. Declining ore grades mean more rock is processed for each ounce of gold, raising energy use, waste, and water intensity even as absolute totals improve.
The inclusion of China's Zijin Mining (OTCPK: ZIJMF) and Shandong (OTCPK: SDGMF) among the world's top 15 producers further shows the shifting dynamics. Zijin reported the highest single-company emissions and nearly a billion tons of waste rock--double Barrick's output--while also leading on socio-economic payments, reflecting Beijing's dual mandate of growth and local benefit.
Price Watch: VanEck Gold Miners ETF (NYSE:GDX) is up 106.54% year-to-date.
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