Australia has been on the front line of the global fight against carbon emissions and has become a leading global destination for diamond miners.
Key points:A new report by a leading Australian think tank finds mining diamond mining is a good thingThe report says diamond mining can be a good way to reduce carbon emissions, especially as mining in the United States becomes more expensiveGold miners in Australia are being warned that they will lose out if the industry becomes more costlyThe report, which is co-authored by Professor Robert Stott of the University of Queensland, says there are significant opportunities to reduce CO2 emissions in Australia, particularly in mining diamond, despite the country’s rising CO2 levels.
The report argues that mining diamond has been shown to reduce greenhouse gas emissions in some parts of the world by 40 to 70 per cent, compared to the use of other mining technologies.
“Diamond is a key carbon sink and is also a major source of energy.
It is important to understand how mining and energy use can change the balance of the carbon cycle, both positive and negative,” Professor Stott said.”
While diamond mining has been a good option in Australia for many years, this report highlights the opportunities that exist in mining and the positive and potential negative impacts of mining in other countries.”
He said the report shows there are positive aspects to mining diamond in Australia and the potential for the industry to benefit from lower costs and increased use of renewable energy.
“This report shows that Australia’s diamond industry has a large potential for sustainable growth,” Professor Scott said.
Mr Stott’s research found mining in Australia was becoming more expensive due to a number of factors, including the increase in the price of raw diamonds in the mining industry.
“A number of companies have been working towards improving the cost of mining by lowering their labour costs, improving quality control, and implementing technologies such as carbon capture and sequestration, which are often used to mitigate climate change impacts,” he said.
Professor Stott noted that diamond mining could also benefit the environment.
“It is likely that mining in a high carbon economy can reduce carbon dioxide emissions by reducing mining costs, reducing the demand for fossil fuels and potentially reducing greenhouse gas pollution,” he added.
“In the long term, it may even be possible to reduce pollution and other environmental impacts caused by diamond mining, particularly with technologies such a carbon capture capture and storage system that can reduce pollution, improve quality control and reduce the demand.”
Topics:business-economics-and-finance,environment,mining-industry,environmental-impact,environment-management,environmentaustraliaContact: David Macleod, melbourne-3000, melbournville-2404, vic,austriaMore stories from Victoria