Foran Mining announces world-first carbon neutral copper project plans

TSXV-listed Foran Mining Corp has partnered with two sustainability-focused companies in a bid to turn the McIlvenna Bay deposit in Canada into the world’s first carbon neutral copper project.

The Vancouver-based company last week announced the partnerships with carbon measurement firm Carbonzero and sustainability advisor 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 in Saskatchewan.

In a media statement, Foran said the move 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’.

Foran will purchase the carbon offsets, which neutralise emissions produced through land and fuel use and travel to and from the site, in the coming weeks. The offsets will help fund projects including a wind power facility in Guatemala and a forest protection initiative in Inner Mongolia.

“We are exploring all kinds of exciting initiatives in line with our audacious mission; this is just the first. McIlvenna Bay will host a centralised mill to support our other world-class deposits and we intend to be around for a long time to come,” said Foran’s executive chair Dan Myerson.

“Copper and zinc are essential products that are needed for building a sustainable future such as solar and wind technologies and EVs. It is imperative we find a way of producing them in a responsible way that lowers social and environmental impact.”