One of the world’s largest mining companies is ditching coal

November 10, 2017 by  
Filed under Business, Eco, Green

Rio Tinto Group, the world’s second largest mining company, is selling off its coal mines with the goal of getting out of the business. Although environmental concerns are motivating some to act against coal, London-based Rio Tinto is choosing to dump coal due to its declining profitability. Still, Rio Tinto’s stated reason for moving away from coal must be taken in the context of a world that is shifting towards a low-carbon economy, in which renewable energy is steadily overtaking fossil fuels as the more economic choice to power the planet. Rio Tinto CEO Jean-Sebastien Jacques framed the decision as a question of making the most out of limited resources, according to Bloomberg , stating that even a company as large as Rio Tinto needs to maximize its human and financial resources. Although Rio Tinto’s decision is based on effective usage of resources and profitability, it and other mining companies are wrestling with the future returns on dirty and increasingly cost-ineffective energy sources like coal. “The big diversified miners are all trying to work out which commodities are going to be most disadvantaged in the future, and the low-carbon transition is one of the big uncertainties that they and other companies are facing,” said Helen Wildsmith, head of climate change at CCLA Investment Management, according to Bloomberg . “We’re seeing more companies integrating their thinking on climate change scenarios into the macro-economic and cyclical scenarios that they work with.” Related: Biggest grid operator in US attacks Perry’s proposal to prop up coal Despite coal’s declining prospects, Rio Tinto is finding buyers for its coal mines, much of which are located in Australia . The mining giant has been selling off its coal assets since 2015. In early 2017, Rio Tinto reached an agreement to sell its Coal & Allied Industries Ltd. to China’s Yanzhou Coal Mining Co. With coal out of the picture, Rio Tinto will be focus more of its resources on extracting more valuable materials. Via Bloomberg Images via Depositphotos (1)  ( 2 )

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One of the world’s largest mining companies is ditching coal

TNC’s Mark Tercek: Protect, transform and inspire

July 9, 2015 by  
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The Nature Conservancy’s CEO shares why it’s expanding its worldview through connections with Dow, Rio Tinto and dozens of others.

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TNC’s Mark Tercek: Protect, transform and inspire

Watch the Night Sky Through Giant Binoculars at Montreal’s Stellar New Planetarium

May 19, 2014 by  
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Read the rest of Watch the Night Sky Through Giant Binoculars at Montreal’s Stellar New Planetarium Permalink | Add to del.icio.us | digg Post tags: AEdifica planetarium , Canadian architects , Cardin Ramirez Julien , Montreal architecture , Montreal Planetarium , planetarium architecture , planetarium Canada , recycled building materials , reused building materials , Rio Tinto Alcan Planetarium , space facility , space observation , Sustainable Building

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Watch the Night Sky Through Giant Binoculars at Montreal’s Stellar New Planetarium

Photographer Zack Seckler Snaps Rare and Beautiful Aerial Photographs of Botswana Wildlife

May 19, 2014 by  
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Read the rest of Photographer Zack Seckler Snaps Rare and Beautiful Aerial Photographs of Botswana Wildlife Permalink | Add to del.icio.us | digg Post tags: aerial photography , botswana , botswana landscapes , botswana wildlife , kalahari desert , Magadigadi Salt Pans , Okavango Delta , robin rice gallery , salt pans , Zack Seckler

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Photographer Zack Seckler Snaps Rare and Beautiful Aerial Photographs of Botswana Wildlife

Beyond Puma, Coke, Dow: Why more firms value ecosystem services

March 14, 2014 by  
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Rio Tinto, Unilever and Weyerhaeuser are also setting targets, assessing the value and embedding ecosystem services into their systems.

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Beyond Puma, Coke, Dow: Why more firms value ecosystem services

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