TORONTO (miningweekly.com) – The global mining sector is facing a tough business environment with low commodity pricing, rising energy costs and constraints, increasingly remote locations and heightened stakeholder opposition.

In this environment, the need to reduce operational power costs and gain stakeholder buy-in was critical to success and mining leaders were increasingly interested in the role that renewable energy could provide in addressing these goals.

This October 22 and 23, senior mining executives would gather with renewable energy and finance experts to network and explore the potential for renewables to reduce operational expenses, gain social licence and secure power supplies.

Conference organiser Energy and Mines’ third yearly Toronto summit had attracted a wide range of mining leaders, from significant mines, to junior operators. Many of these mining attendees were currently evaluating power options for new, remote operations and were interested to know whether renewables could assist with diesel abatement.

“We are operating in the Arctic so we really have to use generators to produce our own power, which is an expensive system. We are looking for alternatives to face high energy costs,” TMAC Resources CEO and director Catharine Farrow, who would address the audience, commented.

“I think the summit is a great opportunity for both the mining and the renewable industries to come together, learn from each other and start a mutually beneficial dialogue,” another summit speaker, Canadian Institute of Mining, Metallurgy and Petroleum president elect and director at Rubicon Metals, Michael Winship, added.

The agenda for Energy and Mines Toronto Summit included 25 senior mining executives sharing their energy strategies, including representatives from Anglo America, AngloGold Ashanti, Avalon Rare Metals, Barrick Gold, Glencore, Hudbay Minerals, Iamgold, Kinross Gold, Kirkland Lake Gold, Lake Shore Gold, MGX Minerals, Rio Tinto, Roxgold, Rubicon Metals, Stornoway Diamond Corp, Teck Resources, TMAC Resources, U3O8 Corp and Western Copper and Gold.

Caterpillar had come on board as the principal sponsor of this high-calibre event which would showcase the very latest renewable energy projects for mining operators. Other sponsors included Northland Power, Tugliq, SolarReserve, Renergetica, Canadian Solar, Pattern Development, Canada Clean Fuels, Panasonic, G+ Plastics, Sonnedix and Sussex Strategy Group.

Along with the latest case studies of renewable energy projects for mining operators, the event would focus on critical topics for mines and renewables attendees including financing solutions, and building energy partnerships with key stakeholders including diesel-dependent First Nations communities. Part of a global series, which included events in London, Santiago and Johannesburg, this summit would aim at providing the right context and platform for these sectors to engage in an open and productive dialogue on mining’s new energy paradigm and the potential for collaboration.