Kounrad solar power project
In its 2021 Sustainability Report, CAML disclosed that the Board had approved the development of the Kounrad Solar Power Plant, and the team had been instructed to commence detailed engineering design. Since then, detailed engineering work was undertaken to confirm the approach and costs and construction commenced in Q4 2022, with the initiation of earthworks at a 10-hectare site close to the SX-EW plant, with completion on track for H2 2023. The project was finished on time and below budget at the end of 2023.
The Kounrad Solar Power Plant consists of a 4.77MW unit, which is expected to:
- provide approximately 16-18% of Kounrad’s electrical power needs;
- marginally reduce the company’s cash cost per lb and therefore modestly improve profitability;
- reduce Kounrad’s Scope 1 and 2 emissions by approximately 10% compared with a 2020 baseline;
- reduce the Group’s GHG (Scope 1 and 2) emissions profile by an estimated 6%;
- reduce exposure to external carbon pricing risk;
- improve reputation with Kazakh authorities, and with other local and international stakeholders and shareholders; and
- contribute to the United Nations Sustainable Development Goals.
This engineering project confirms CAML’s commitment to its strategic climate change pillars of working towards decarbonisation, ensuring the Group is operationally resilient, and focusing on its strategic and business resilience.
UN SDG
By producing the metals which play a key role in transmitting renewable power, and therefore contribute positively to the energy transition, we aim to play our part to global decarbonisation. Improving energy efficiency is a key focus of the Company.
We contribute to the economic growth and sustainable development of our countries of operation by providing fair wages and meaningful employment, prioritising local procurement to support regional economies, paying taxes transparently, and upholding human rights. We strictly prohibit modern slavery, child labour and human trafficking across our operations and supply chains. We believe that ethical stewardship and responsible sourcing are not only essential to effective risk management but also fundamental to delivering long-term value for all our stakeholders.
We have implemented a number of resource-use efficiency initiatives. In addition to this, we are focused on renewable energy acquisition or generation and fuel improvements. At Kounrad, we are constructing a solar farm to replace 16% of the project’s energy consumption with renewables.
Our operations in Kazakhstan are based on the concept of circularity by producing copper from historical waste dumps. We are committed to proactively working to reduce and recycle non-mineral, hazardous and non-hazardous material waste and preventing or reducing pollution.
We recognise our responsibility, as a contributor of greenhouse gas emissions, to identify and implement programmes to minimise energy usage and increase use of renewable energy where possible, as well as to mitigate and adapt to the impacts of climate change throughout the value chain.