| Sourced From |
NEW YORK — Gold Fields Ltd. said Wednesday it will capture methane gas from one of its mines and sell the carbon credits in a six-year deal that’s worth an estimated $25.8 million.
The South African gold producer said it will generate financial securities known as Certified Emissions Reductions (CERs), which are traded and bought worldwide by industrial companies to help comply with their carbon emissions obligations.
Gold Fields ( GFI – news – people ) said it plans to sell 1.7 million CERs to Mercuria Energy Trading SA, a European energy trading company, under a contract that runs until 2016. The revenue will be used to help pay for a variety of projects that capture methane gas from the Beatrix Gold Mine in South Africa’s Free State province.
The company expects to install an underground methane capture system before the end of the year. Gold Fields also is looking for ways to convert that gas to electricity, and it plans to start building a power plant next year.
Gold Fields shares rose 22 cents to $13.39 in morning trading.
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Gold Fields to sell carbon credits worth $26M: | Sourced From Forbes |
NEW YORK — Gold Fields Ltd. sa… #carbonoffset
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Gold Fields to sell carbon credits worth $26M: | Sourced From Forbes |
NEW YORK — Gold Fields Ltd. said Wednesday …
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“financial securities known as Certified Emissions Reductions (CERs) which R traded..worldwide” @CarbonNews #green
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