Hydro wins “Mining & Raw Materials Industry Leadership Award” at the Global Platts Global Metals Awards

The Norwegian aluminium and renewable energy company, headquartered in Oslo, Norsk Hydro, was recently honoured with the “Mining & Raw Materials Industry Leadership Award” at the annual S&P Global Platts Global Metals Awards 2022. The Global Metals Awards honour the top performers in the metals sector in 15 categories, ranging from individual to corporate accomplishments. S&P Global Platts, the leading independent source of news and benchmark prices for the commodities and energy markets, is the organisation that hosts it.

“This recognition is an acknowledgment of the great work being done throughout our organization and sends a strong message of Hydro’s commitment to become a net-zero company by 2050,” said John Thuestad, Executive Vice President Hydro Bauxite & Alumina.

The sustainability strategy and goals of Hydro are significantly facilitated by a cleaner energy mix at Alunorte. Hydro stated earlier this year that it had decided to invest BRL 1.3 billion (USD 270 million) in the fuel-switch initiative, which aims to partially replace fuel oil usage with natural gas, which emits fewer greenhouse gases (GHGs).

In addition, Hydro plans to replace coal at Alunorte with three electricity boilers. These initiatives might cut Alunorte's yearly CO2 emissions by 1.1 million tonnes, which would be a significant step toward achieving Hydro's 2030 emission reduction goal of 30 per cent.

“The company recognized that challenges from sustainability trends, such as key stakeholders, including governments, looking beyond carbon and focusing on the overall sustainability footprint, including social factors, could negatively impact Hydro’s license to operate,” said the jury.

Alunorte was granted permission in 2021 to run the DRS2 advanced bauxite residue deposit. The DRS2 only takes up one-fourth of the surface area of the previous Alunorte bauxite residue deposit because of Hydro's press filter technology (DRS1). Additionally, Hydro's Paragominas bauxite mine, which supplies bauxite to Alunorte, has employed a technique called Tailings Dry Backfill, which replants harvested bauxite in previously mined regions.