Petra Diamonds has entered into long-term power purchase agreements (PPAs) for the procurement of wheeled renewable energy for its Cullinan and Finsch Diamond Mines in South Africa from Etana Energy, a licenced South African energy trader.
It said the PPAs will supply each operation between 36 and 72% of the expected load requirement from fiscal year 2026 onwards through utilising the existing electrical grid.
This, said Petra, represents a milestone for the company's sustainability ambitions, enabling it to fulfil its target of reducing scope 1 and 2 greenhouse gas (GHG) emissions by 35 to 40% by 2030 well ahead of time.
"These agreements align with Petra's renewable strategy and exemplify the Company's continued integration of its sustainability ambitions in everything we do,” said company chief executive Richard Duffy.
“This will result in a considerable reduction of our GHG emissions, well ahead of our 2030 target, and will further strengthen the sustainability credentials of our diamonds.”
Petra said in addition to reducing the company's carbon footprint, the portion of the energy sourced from Etana will contribute to predictable energy costs and is expected to result in sustainable cost savings over the term of the PPAs.
The Company remains committed to generating zero emissions on a net basis for scopes 1 and 2 by 2050, with an ambition to achieve this by 2040.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
