OceanaGold Corporation WAI-985-000-REP-LC-0056_Rev0 Page 26 of 36 3 OCEANAGOLD’S CONTRIBUTION TO GREENHOUSE GAS EMISSIONS 3.1 Global Context OceanaGold recorded a total of 247,005 tonnes of CO2 equivalent (CO2e) emissions from its global operations in 2019. 52% of emissions are scope 1 and come predominantly from diesel usage, while scope 2 emissions from purchased electricity accounts for the remaining 48%. With a total gold production of 470,759 ounces of gold and copper equivalent, this equates to an emissions intensity of 0.525 tonnes of CO2e per ounce of gold produced. A 2020 report published by S&P Global found gold mines emitted on average 0.800 tonnes of CO2e per ounces of gold produced in 20191. While this places OceanaGold at the lower end of gold mining emitters, we recognise the continued need to reduce and ultimately eliminate the impact of our operations on climate change. 3.2 New Zealand Context OceanaGold’s New Zealand operations produced 105,174 tonnes of CO2e in 2019. Approximately 71% of OceanaGold’s New Zealand emissions at its New Zealand operations are classified as scope 1, with the remaining 29% scope 2. The difference to the global ratios is due to the relatively high proportion of renewables within New Zealand’s national electricity grid. In 2019, OceanaGold’s New Zealand mining activity provided a $220 million contribution to New Zealand’s gross domestic product, resulting in an intensity of 478 tonnes of CO2e per $ million. This places OceanaGold above the national average of 280 tonnes of CO2e per $ million, but below the mining industry average of 571 tonnes of CO2e per $ million and significantly lower than agriculture at 3,360 tonnes of CO2e per $ million. 3.3 Local Context The Waihi operation accounted for 13,262 tonnes of CO2e emissions in 2019 (approximately 5% of OceanaGold’s told global emissions). These emissions are split as approximately 48% scope 1 and 52% scope 2. In 2019, OceanaGold’s Waihi operation contributed $103 million to New Zealand’s gross domestic product, resulting in an intensity of 129 tonnes of CO2e per $ million. This intensity will fall to 122 tonnes of CO2e per $ million when the Waihi North Project comes on stream, due to a combination of higher production, improved energy efficiencies, and the move away from diesel powered to electric powered equipment. These intensities are significantly lower than comparative industries and the wider New Zealand economy. 1 “Greenhouse gas and gold mines: Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019”, S&P Global Market Intelligence Report, 7 October 2020.
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