The Asia Miner

APR-JUN 2019

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Page 21 of 71

the asia miner • volume 16 • issue 2 20 WASTE TO ENERGY BHP has announced a US$6 million equity investment in Carbon Engineering (CE), a Canadian-based company leading the development of Direct Air Capture, an innovaঞve technology which has the potenঞal to deliver large-scale negaঞve emissions by removing carbon dioxide from the atmosphere. According to BHP's Vice President, Sustainability and Climate Change, Dr Fiona Wild, the company is commied to acceleraঞng the global response to climate change by invesঞng in emerging technologies that have the potenঞal to lead to material reducঞons in greenhouse gas emissions. "As the Intergovernmental Panel on Climate Change (IPCC) stated in late 2018, if we are to avoid the worst effects of climate change, technologies that capture and remove CO 2 will be required," said Dr Wild. "Direct Air Capture offers flexibility and potenঞal, and could play a vital role in reducing future global emissions. We hope that this investment can accelerate the development and adopঞon of this technology." The investment will see BHP obtain a share of the company. CE's CEO, Steve Oldham, welcomed BHP's investment, staঞng that the company focused on commercialising technologies that can play a criঞcal role in addressing climate change. "BHP's global reach and experience in execuঞng complex projects, as well as their strategic commitment to reducing emissions, make them an ideal partner to help us accelerate the commercialisaঞon and use of CE's technologies," commented Mr Oldham. "We're looking forward to working with BHP and our other partners as we progress the development of DAC and AIR TO FUELS™ faciliঞes, and ulঞmately achieve our goal of delivering affordable, carbon-neutral fuels and significant emissions reducঞons around the globe." BHP believes that investment in emerging technologies to reduce emissions is just one part of addressing climate change. "At BHP, we also set greenhouse gas emissions reducঞon targets for our operaঞons, we build the resilience of our operaঞons and communiঞes to the physical impacts of climate change and we work in partnership with our resource sector peers to improve sectoral performance," said Dr Wild. Dr Wild said the investment in CE complements BHP's exisঞng efforts to accelerate the development of carbon capture, uঞlisaঞon and storage (CCUS) at point sources of CO 2 emissions, such as in steel making and power generaঞon. "Government support for technologies that capture carbon has been important. Mobilising private capital and supporঞng market mechanisms to finance technologies that address global emissions, however, will be criঞcal 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," concluded Dr Wild. DAC is a technology that captures CO 2 from atmospheric air, and provides it in a purified form for use or storage. Carbon Engineering's DAC technology does this in a closed loop where the only major inputs are water and energy, and the output is a stream of pure, compressed CO 2 . This captured, compressed CO 2 then offers a range of opportuniঞes to create products and environmental benefits, including producঞon of clean-burning liquid fuels with ultra-low carbon intensity. BHP invests US$6 million into clean energy company BHP on the road to combang CO 2 emissions

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