BHP invests in Canadian firm removing CO2 from air
PERTH (miningweekly.com) – Mining major BHP will invest $6-million into Canada’s Carbon Engineering (CE), as part of its emissions reductions strategy.
“BHP is committed to accelerating the global response to climate change by investing in emerging technologies that have the potential to lead to material reductions in greenhouse gas emissions,” said VP for sustainability and climate change, Fiona Wild.
CE is leading the development of direct air capture, an innovative technology which has the potential to deliver large-scale negative emissions by removing carbon dioxide (CO2) from the atmosphere.
The investment will see BHP obtain a share of the company.
“As the Intergovernmental Panel on Climate Change stated in late 2018, if we are to avoid the worst effects of climate change, technologies that capture and remove CO2 will be required. Direct air capture offers flexibility and potential, and could play a vital role in reducing future global emissions,” said Wild.
“We hope that this investment can accelerate the development and adoption of this technology.”
CE CEO Steve Oldham welcomed BHP’s investment, saying the miner’s global reach and experience in executing complex projects, as well as its strategic commitment to reducing emissions, made it an ideal partner to assist in accelerating the commercialisation and use of CE’s technologies.
“We’re looking forward to working with BHP and our other partners as we progress the development of direct air capture and AIR TO FUELS facilities, and ultimately achieve our goal of delivering affordable, carbon-neutral fuels and significant emissions reductions around the globe,” said Oldham.
Wild said the investment in CE complements BHP’s existing efforts to accelerate the development of carbon capture, utilisation and storage (CCUS) at point sources of CO2 emissions, such as in steelmaking and power generation.
“We have achieved progress in CCUS through partnerships, including with the International CCS Knowledge Centre in Canada and with Peking University. We also support REDD+, the UN programme for reducing atmospheric emissions from deforestation and forest degradation.
“Government support for technologies that capture carbon has been important. However mobilising private capital and supporting market mechanisms to finance technologies that address global emissions will be critical if we are to build a net-zero emissions economy. This investment is a good example of the role that the private sector can play in bringing such technologies to market,” said Wild.
Comments
The
content
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