Rio Tinto’s climate warning could split the mining industry

‘Green’ miners will produce the minerals essential for the transition from the age of oil to the age of electricity for a carbon-constrained futureLaunceton — It’s not quite yet pistols at dawn but Rio Tinto’s polite warning to mining lobby groups that they have to acknowledge the threat of climate change is likely a sign that the industry will inevitably fracture into two camps.

The world’s second-biggest miner also said that mining lobby groups should argue against public subsidies for coal and advocate for energy supply to be done in a “technology-neutral way”. The Minerals Council of Australia has now changed its view to argue that “sustained global action is required to reduce the risks of human-induced climate change”. This contrasts with its position in July 2017 that new generation, coal-fired power plants would reduce Australia’s emissions by replacing older, more polluting generators.

The collapse of a tailings dam at an iron ore mine in Brazil operated by Vale, with the loss of an estimated 300 lives, sparked a coalition of ethical investors to write to 683 listed resource companies asking for them to make public within 45 days information on their facilities.

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