Glencore to exit SA coal mining in as little as 15 years as sets out carbon reduction target

GLENCORE will allow its coal reserves to deplete in order to meet its scope 3 targets which is to reduce greenhouse gas emissions by 30% by 2035.

What this means from a South African perspective is that the Swiss-based miner and trader will exit the country’s coal sector in as little as 15 years – the stated length of mineable reserves left in its portfolio.

“We are using everything we’ve got,” said Glencore CEO, Ivan Glasenberg when asked in a media conference call for details as to whether it would sell resources not currently under its economic plan.

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