The mining industry is on the cusp of a transformative shift, driven by an emerging sector that could simultaneously tackle climate change and bolster job markets. The Carbon Removal Alliance, a US-based non-profit, has released a report, conducted independently by the Rhodium Group, that paints a compelling picture of the economic opportunities within the carbon removal industry. This sector, distinct from carbon capture, focuses on removing and permanently storing legacy carbon dioxide already in the atmosphere, rather than capturing emissions at a point of origin.
The report reveals that a carbon removal industry capable of removing 100 million metric tons of carbon emissions annually could generate between 95,000 and 130,000 lasting jobs across the United States. This is not just about job creation; it’s about repurposing existing skills and infrastructure. Technologies like enhanced rock weathering (ERW) and ocean alkalinity enhancement (OAE) are poised to be significant job creators, with mining and quarry workers playing a pivotal role.
ERW, for instance, could generate 22,000 to 29,500 ongoing jobs, while OAE could create 13,000 to 17,500. These technologies don’t just remove carbon; they repurpose industrial byproducts, such as steel slag, and even offer potential for critical mineral extraction. Giana Amador, executive director of the Carbon Removal Alliance, emphasizes the unique potential of these technologies. “These are new solutions that have been in development for about a decade and can really lead to job creation and economic benefits across the US,” Amador said. “They don’t just reduce emissions, but actually clean up carbon that’s already in the atmosphere.”
The alliance works with around 30 companies developing cutting-edge technologies, many of which utilize minerals from the mining sector. Eli Cain, senior policy manager at the Carbon Removal Alliance, highlights the potential of minerals like basalt, limestone, and olivine, which are already mined in the US and Canada. “The more traditional ones are things like basalt or limestone or dunite or olivine, wollastonite – all of these are mined in the US, and a lot of them in Canada as well,” Cain said. “Canada does a great job on this, we want to bring more of that into the United States.”
Partnerships between carbon removal companies and mining firms could unlock new revenue streams. ARCA climate technologies, a member of the Carbon Removal Alliance, reported that mine waste could be transformed into a ‘net-zero, multi-billion dollar opportunity’. These partnerships could help mining companies meet their emissions targets while providing cost-effective decarbonization solutions. “One of the reasons we’re really excited about partnerships between carbon removal and mining companies is because the carbon industry is going so quickly, it means that we will need more of these mine resources in order to accomplish their goals,” Cain noted. “And we’re not talking like one new mine– we’re talking like the scale of the global cement industry today.”
This news challenges the mining industry to think beyond traditional roles and embrace a future where their operations can actively contribute to climate solutions. It’s a call to action for miners to engage with the carbon removal sector, explore partnerships, and leverage their resources to create a more sustainable future. The potential is vast, and the time to act is now. The mining industry stands at a crossroads, with the opportunity to shape a new economic landscape while playing a crucial role in combating climate change.
