The demand for our products today for application in Electric Vehicles and energy storage systems has been at least in part driven by the lack of sustainable development in the past; we are part of the solution but must not be part of the problem.
This guides the approach to everything we do. It defines what minerals we search for, how those resources are developed, what technologies we apply in our operations, and which organisations we partner with. Fortunately, technology developments allow mining to be conducted in a much more sustainable way than historically.
We have a bias to underground mining since this allows us to minimise our operations' footprint. It also reduces the total volume of materials we need to disturb and move, a key determinant of our energy requirements. We believe that undergound mining of hard rock lithium is the most efficient way to obtain the battery minerals that the world needs.
We seek to maximise the use of renewable energy within our operations. On Day One of our operations at Kathleen Valley, we aspire to be best in class in respect of Scope 1 and 2 Carbon Dioxide emissions and Net Zero on these measures by 2034.
Our initial Sustainability Report released in Quarter 4 of 2021, describes our pathway to fully sustainable operations.
By 2034, we aspire to eliminate all net CO2 emissions from our operations.
Operations based on targeted underground mining, rather than open pit mining, is the first pillar in this strategy, significantly reducing the amount of material we mine and waste ore we produce.
The second pillar is use of renewable energy. By 2029 more than 75% of our energy requirements will be supplied from renewable sources. Our mining fleet will be electric powered, and our transport fleet will be powered by at least 50% biofuel.