Renewable energy sourcing in mining: Balancing cost, reliability and decarbonisation

As mining operations face growing pressure to reduce emissions while maintaining reliable and cost-effective production, energy sourcing has become a critical strategic decision. Rising demand for critical minerals, declining ore grades and increasing electrification across mining processes are driving greater electricity consumption at the same time that investors, regulators and communities are expecting stronger decarbonisation performance.

The good news is that renewable energy technologies, particularly solar and wind, have become increasingly affordable and scalable. Combined with advances in battery storage and evolving renewable power contracting models, mining companies now have more options than ever to reduce their carbon footprint and improve long-term energy resilience. However, there is no single solution that works for every operation.

A mine’s optimal energy strategy depends on a complex combination of factors, including grid reliability, renewable resource availability, market structures, operational requirements and future electrification plans. The challenge is not simply choosing the lowest-cost or lowest-emission technology, but designing an integrated energy system that balances three key priorities: affordability, security of supply, and emissions reduction.

In this report, SLR experts explore the technologies shaping the future of mining energy systems, from grid-supplied electricity and on-site renewable generation to battery storage and emerging low-carbon solutions. We examine the risks, trade-offs and sourcing strategies that mining companies must navigate, supported by practical examples from Australia, Chile and Canada. The report also outlines SLR's perspective on developing robust, finance-ready energy solutions through system modelling, scenario analysis and long-term optimisation.

Read the full report to discover how mining companies can build resilient, low-carbon energy strategies that support both operational performance and long-term competitiveness.

Read the full report

---

Renewable energy in the mining sector:

Key considerations for energy sourcing strategies

Open report