Precious metals consultancy Metals Focus finds that combined Scope 1 and 2 greenhouse gas (GHG) emissions from gold mining companies decreased by 5.4% year-on-year in 2023, amounting to 27 249 kilotonnes of CO2 equivalent emissions.

The survey spanned companies such as Agnico Eagle, AngloGold Ashanti, B2Gold, Barrick Gold Corporation, Endeavour Mining, Gold Fields, Harmony Gold, IAMGOLD, Kinross, Newcrest, Newmont, Northern Star, Poluys and Solidcore Resources.

Metals Focus also reports that gold companies’ payments to governments increased by 12% year-on-year $9.1-billion last year, while community investment lowered by 16% to $333-million.

The stronger gold price resulted in higher revenues and royalties for most companies, marking a return to the longer-term upward trend in payments to government after a decline in 2022.

Despite  discretionary expenditure on community development projects having lowered, it remained in excess of $300-million for the second consecutive year.

Local procurement spend increased to $25-billion across the global gold mining companies surveyed, with eight of eleven of the world’s largest miners having posted an increase in this spending.

Notably, the companies combined recorded 16 fatalities – the lowest level since 2020. This compares with a peak of 45 fatalities reported in 2015.

This while the average lost time frequency rate maintained a downward trajectory, having decreased by 2% year-on-year in 2023 to 1.4-million hours worked.

Metals Focus notes the weighted average of women within the workforce increased for the fifth consecutive year to 16.6% in 2023, with Gold Fields leading the way in this regard at 25% women representation in its workforce.  

Three of the 11 companies had women in more than 30% of senior management roles in 2023.

Metals Focus mine supply director Sarah Tomlinson says the reduction in the gold industry’s environmental footprint was positive, reflecting the sector’s ongoing efforts in emission reduction initiatives and a decreasing reliance on fossil fuel.

Additionally, there was a growing emphasis on Scope 3 emissions reporting, contributing to a more comprehensive understanding of the industry's impact from both direct and indirect emissions.

Tomlinson says the increase in payments to governments indicates renewed growth, while the better safety figures highlights the sector’s commitment to safer work environments.

“We are optimistic about the industry's path forward, as it strives to enhance its positive impact on both the environment and the communities it serves,” she concludes.