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Alamos Gold Announces Release of Inaugural Climate Change Report
TORONTO, June 02, 2023 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) is pleased to announce the release of its
About this update from Alamos Gold Inc.
[{"type":"text","content":" TORONTO, June 02, 2023 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) is pleased to announce the release of its inaugural Climate Change Report. This is a significant milestone in Alamos’ sustainability journey and follows a previous statement in mid-2022 announcing Alamos’ target of a 30% reduction in absolute Greenhouse Gas (GHG) emissions by 2030. This report achieves a number of objectives, including providing an overview of Alamos’ corporate governance around climate-related risks and opportunities; outlining the Company’s processes to identify, assess and manage climate-related risks; alignment to Task Force on Climate-related Financial Disclosure recommendations; and further details on Alamos’ 30% absolute GHG Emission Reduction Target by 2030. John McCluskey, President and CEO of Alamos commented: “Alamos has emerged as an industry leader with among the lowest GHG emission intensity per ounce of gold produced, placing well below our peer and senior producer average. In this Climate Change Report, you will read about initiatives underway at all three operations, including our Phase 3+ expansion at Island Gold which is expected to drive a 35% reduction in our GHG emissions over the life of the mine.” Alamos is already an industry leader in GHG emission intensity with an average of 0.38 tCO2e per ounce of gold produced across its three operating mines (base year 2020/2021), which is 43% lower than the mining industry average of 0.67 tCO2e per ounce of gold. Part of this success includes Young-Davidson’s 37% reduction of emission intensity in 2021 over the year prior, reflecting a reduced reliance on diesel consumption at the mine through the installation of electric conveyance systems. Alamos is implementing a plan to achieve a 30% reduction in absolute GHG emissions, with a focus on six key projects across the Company. The first completed project involves fuel switching to convert the use of propane to compressed natural gas at Young-Davidson. Propane has historically been used at site for heating of buildings and underground air for the mine during the winter months. The conversion to compressed natural gas will be beneficial from a cost perspective, as well as a greenhouse gas reduction. Alamos’ Climate Change Report can be found on our Company website in the Sustainability section ...