A presentation that Anglo American gave to the Bank of America global mining and metals conference this month had a very interesting graphic that told a big story.
It showed crop nutrients replacing thermal coal in the company’s portfolio of assets. A crop nutrients mine has been bought and thermal coal mines are being sold because polyhalite positions the company for a sustainable future and thermal coal mines don’t. Other mining giants have taken steps of their own because massive demands are already building up for climate change mitigation to be taken very seriously, particularly now, as part of the world’s Covid-19 recovery.
The next hurdle will be protecting the human health that global warming threatens. Some commentators are already demanding that climate change be elevated to the legal status of human rights and the rule of law. They also want preferential trading to be granted to countries that are implementing the Paris Agreement. Will products made with the help of coal-fired electricity soon be barred by some countries? That’s how fast the world is changing.