TIDMAAL

RNS Number : 5921G

Anglo American PLC

16 November 2022

 
16 November 2022 
Anglo American sources 100% renewable electricity supply 
 for Australia operations 
 
 

Anglo American has sourced the supply of 100% renewable electricity for its operations in Australia from 2025, agreeing terms for a 10-year partnership with Stanwell Corporation, the Queensland Government-owned provider of electricity and energy solutions. The deal will effectively remove all Scope 2 emissions from Anglo American's steelmaking coal business in Australia from 2025, supporting Anglo American's progress towards carbon neutral operations by 2040.

Dan van der Westhuizen, CEO of Anglo American in Australia, said: "Sourcing 100% renewables supply from Stanwell Corporation, linked to two major wind and solar projects in Queensland, is a big step towards our target of carbon neutral operations in Australia - and globally - by 2040. We are committed to playing our part to help combat climate change, including accelerating a number of technologies to abate our on-site emissions, from electrifying our truck fleet and other mobile equipment to capturing the methane from our steelmaking coal seams.

"I am delighted that we are able to support Stanwell Corporation in its investment in 650MW of renewables capacity for Queensland. Today's deal brings significant environmental benefits and is NPV positive compared with our current energy mix, while underwriting a large investment in renewable energy generation for Queensland."

Anik Michaud, Anglo American's Group Director of Corporate Relations and Sustainable Impact, said: "We are working tirelessly across our global footprint to reduce emissions. Many of the metals and minerals we produce are critical to the infrastructure and technologies required to decarbonise the world's energy and transport systems - and this includes the ingredients needed for steelmaking. Our commitment to being part of the solution to climate change begins in our own business by meeting our emissions reduction targets and our 2040 operational carbon neutrality goal.

"Combined with the agreements we already have in place for all our South America operations, from 2025 we expect to be drawing 60% of our global electricity requirements from renewable sources, transforming our Scope 2 emissions profile. We are committed to producing the metals and minerals that we need to mitigate the extent of global warming in the most responsible and sustainable way."

The partnership between Anglo American and Stanwell underwrites investment in the two major Queensland renewable energy projects - Clarke Creek Wind Farm in Central Queensland, and Blue Grass Solar Farm near Chinchilla.

Notes to editors:

Anglo American - renewable electricity supply secured across South America operations

Renewable energy - Brazil

In 2019, Anglo American signed agreements with Casa dos Ventos and AES Tietê to provide wind power and with Atlas Renewable Energy to provide solar power to meet all the electricity needs of Anglo American's iron ore and nickel operations in Brazil. Our CO2 emissions in Brazil are expected to reduce by approximately 70% as a result.

Renewable energy - Chile

In 2019, Anglo American signed an agreement with Enel Generación Chile to provide renewable power (a mix of wind, solar and hydroelectric) to meet all the electricity needs of Anglo American's copper operations in Chile. Our CO2 emissions in Chile are expected to reduce by approximately 70% as a result.

Our 44% owned copper operation, Collahuasi, signed agreements with both Enel and solar power producer Sonnedix to provide 100% renewable power for the operation from April 2020.

Renewable energy - Peru

In 2021, Anglo American signed an agreement with Engie Energía Perú to provide a combination of wind and hydroelectric power to meet all the electricity needs of the Quellaveco copper operation which began production in 2022. Our CO2 emissions in Peru are expected to reduce by approximately 70% compared with our original project baseline projections.

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions of consumers. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and to mine, process, move and market our products to our customers - safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and steelmaking coal, and nickel - with crop nutrients in development - we are committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving communities and building trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people's lives.

www.angloamerican.com

For further information, please contact:

 
 Media                                       Investors 
 
   UK                                          UK 
   James Wyatt-Tilby                           Paul Galloway 
   james.wyatt-tilby@angloamerican.com         paul.galloway@angloamerican.com 
   Tel: +44 (0)20 7968 8759                    Tel: +44 (0)20 7968 8718 
 
   Marcelo Esquivel                            Emma Waterworth 
   marcelo.esquivel@angloamerican.com          Emma.waterworth@angloamerican.com 
   Tel: +44 (0)20 7968 8891                    Tel: +44 (0) 20 7968 
                                               8574 
 
   South Africa                                Michelle Jarman 
   Nevashnee Naicker                           michelle.jarman@angloamerican.com 
   nevashnee.naicker@angloamerican.com         Tel: +44 (0)20 7968 1494 
   Tel: +27 (0)11 638 3189 
 
   Sibusiso Tshabalala 
   sibusiso.tshabalala@angloamerican.com 
   Tel: +27 (0)11 638 2175 
 

Forward-looking statements:

This document includes forward-looking statements. All statements other than statements of historical facts included in this document, including, without limitation, those regarding Anglo American's financial position, business, acquisition and divestment strategy, dividend policy, plans and objectives of management for future operations (including development plans and objectives relating to Anglo American's products, production forecasts and Ore Reserve and Mineral Resource positions) and environmental, social and corporate governance goals and aspirations, are forward-looking statements. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anglo American or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Anglo American's present and future business strategies and the environment in which Anglo American will operate in the future. Important factors that could cause Anglo American's actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of actual production during any period, levels of global demand and commodity market prices, mineral resource exploration and development capabilities, recovery rates and other operational capabilities, safety, health or environmental incidents, the effects of global pandemics and outbreaks of infectious diseases, the outcome of litigation or regulatory proceedings, the availability of mining and processing equipment, the ability to produce and transport products profitably, the availability of transport infrastructure, the impact of foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, the effects of inflation, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by courts, regulators and governmental authorities such as in relation to permitting or forcing closure of mines and ceasing of operations or maintenance of Anglo American's assets and changes in taxation or safety, health, environmental or other types of regulation in the countries where Anglo American operates, conflicts over land and resource ownership rights and such other risk factors identified in Anglo American's most recent Annual Report. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this document. Anglo American expressly disclaims any obligation or undertaking (except as required by applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules, the Disclosure and Transparency Rules of the Financial Conduct Authority, the Listings Requirements of the securities exchange of the JSE Limited in South Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Anglo American's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Nothing in this document should be interpreted to mean that future earnings per share of Anglo American will necessarily match or exceed its historical published earnings per share. Certain statistical and other information about Anglo American included in this document is sourced from publicly available third party sources. As such it has not been independently verified and presents the views of those third parties, but may not necessarily correspond to the views held by Anglo American and Anglo American expressly disclaims any responsibility for, or liability in respect of, such information.

Legal Entity Identifier: 549300S9XF92D1X8ME43

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