Mafic and ultramafic mine waste presents high-value opportunity

Mine waste can remove carbon dioxide from atmosphere at scale, representing an untapped resource, asserts new white paper.

A white paper from Arca, nonprofit consultancy The Climate Agency, and former Financial Times Natural Resources Correspondent Will MacNamara, sets out how mine waste could aid the low-carbon economy.

Geological potential, technical innovations, commercial pathways, public incentives and sustainability benefits are covered by the paper. The executive summary can be read without sharing data.

The paper notes that current mining operations produce 3Bt of mafic/ultramafic mine waste annually, equating to US$100bln in annual revenue potential.

Legacy mine waste offers a one-off revenue opportunity of US$870bln.

Carbon removal credits are the route for mining companies to access this revenue, the paper finds.