Foran Mining Corporation has announced that its 100% owned Mcllvenna Bay deposit will become the world’s first carbon neutral copper development project.
The Company has partnered with leading carbon measurement firm and sustainability advisory firms, Carbonzero and Synergy Enterprises, to accurately record its emissions and purchase verified offsets for the carbon emitted from all exploration activities over the past 10 years at the Deposit.
The move underscores Foran’s commitment to building the world’s first fully carbon-neutral copper mine and is part of its broader mission to create a blueprint for responsible mining that causes the least possible harm from day one through the innovative use of technology, renewable energy and fleets of electric vehicles and equipment.
By offsetting the carbon emitted in the exploration phase, Foran aims to ensure that it accounts for the entire impact of the project from development, through to operations, to eventual closure.
The offsets, which neutralize emissions produced through land-use changes and clearing, fuel-use for exploration and travel to and from the site, will be purchased in the coming weeks and will help provide funding for a mix of projects including a wind power project in Guatemala, and a forest protection project in Inner Mongolia.
GHG (greenhouse gas) emissions associated with the project will be measured in line with the ISO 14064-1 standard and the Greenhouse Gas Protocol Corporate Standard and offset in each subsequent year of the project
Foran Mining is a copper-zinc-gold-silver exploration and development company, and is committed to supporting a greener future, empowering communities, and creating circular economies which create value for all our stakeholders, while also safeguarding the environment.
Mcllvenna Bay is the largest undeveloped VMS deposit in the region. The Company filed a Nl 43-101 Technical Report for the PFS on the Mcllvenna Bay Deposit on SEDAR on April 28, 2020. Foran’s copper-zinc VMS Bigstone Deposit is expected to serve as additional feed for the mill at Mcllvenna Bay.