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Responsible Consumption and Production

In September 2015, 193 world leaders agreed to 17 Global Goals for Sustainable Development. If these Goals are completed, it would mean an end to extreme poverty, inequality and climate change by 2030.
Goal 12: Ensure sustainable consumption and production patterns.

  • [New] Chesapeake's production of 3 Bcf/d of natural gas means that approximately 11 million homes in the U.S. will be able to heat their homes and have electrical power with independently certified responsibly sourced gas. Hart Energy
  • [New] With manufacturing recovering, pressures should diminish on the more complex segments of global supply chains in 2022, which in turn will allow supply to meet demand for key consumer products. Oxford Economics
  • [New] Strategists at Barclays set an S&P 500 SPX, +1.42% price target of 4,800 - about 5% above current levels - as they expect earnings growth to continue, but warn persistent supply-chain woes, reversal of goods consumption to trend and China hard-landing are key tail risks. MarketWatch
  • [New] According to estimates from the International Energy Agency, OPEC and Russia could account for 58% of global oil supply by 2050, up from 46.5% last year, as other countries - including the United States - invest less in exploration and production as shareholders demand greater financial discipline. CNN
  • [New] Co-product production at Penasquito in 2022 is expected to remain consistent with 2021 production levels, with increased production starting in 2023 due to higher silver, lead and zinc content delivered from the Chile Colorado pit. Junior Mining Network
  • [New] Penasquito is expected to deliver lower gold production in 2022 due to lower-grade, harder ore mined from the Chile Colorado pit and stripping the next phases of the Penasco and Chile Colorado pits continuing through 2023. Junior Mining Network
  • [New] In the longer-term, higher co-product production from Penasquito is expected due to higher silver, lead and zinc content delivered from the Chile Colorado pit, which is partially offset by decreasing copper production from Boddington due to mine sequencing. Junior Mining Network
  • [New] Total gold production combined with other metals is expected to be 7.5 million gold equivalent ounces in 2022 and improve longer-term, with declining costs through investments in new, lower-cost production and benefits from Full Potential improvements. Junior Mining Network
  • [New] Gold production in Australia is forecast to rise by 3.2% to 338 tonnes in 2021, whereas production in Canada and the US is forecast to rise by 24% and 6.5% to 224 and 212 tonnes, respectively, driven by a production recovery from the disruption of the COVID-19 pandemic. AgaBullion
  • [New] Production in Guyana is expected to increase six-fold to 750,000 barrels per day in 2026, Permian should reach 700,000 barrels of oil and gas per day in 2025 and Brazil 220,000 boed in 2024. The Globe and Mail
  • [New] Hummingbird Resources currently has two core gold projects, the operational Yanfolila gold mine in Mali, and the Kouroussa gold mine in Guinea, which will more than double current gold production when in production, scheduled for first gold pour end of Q2 2023. Kitco News
  • [New] Azerbaijan's own gas production has not grown as fast as had been expected, and for several years Baku has been forced to import from both Russia and Iran to meet growing local demand. Eurasianet
  • [New] Fortescue Metals is currently building a magnetite operation in the Pilbara called Iron Bridge, with first production scheduled for the end of 2022. The Guardian
  • [New] Lower-quality ore producers in Australia will need to further refine their product in order to make it suitable for hydrogen [electric arc furnaces], potentially raising production costs, it said. The Guardian
  • [New] Existing renewable energy sources, particularly wind and solar power, can be scaled up to replace fossil fuels but will struggle to also meet forecast increases in power demand owing to the electrification of the global energy system and rising energy consumption in developing countries. Financial Post
  • [New] Foxconn expects its electronic vehicle (EV) business to contribute to revenue in Q3 of 2022, when it could start production in America in a partnership with Lordstown Motors Corp. Webull
  • [New] The ZoneFlow reactor technology allows capital savings for new SMR plants and higher productivity for existing plants, and the opportunity to reduce steam requirements for SMR will reduce energy demand and CO 2 emissions. Chemical Engineering
  • [New] PSTI will prevent the sale of consumer connectable products in the UK that do not meet baseline security requirements. Device Authority Ltd
  • [New] UK customers buying products will still be able to use Visa debit cards, Mastercard and Amex credit cards as well as Visa credit cards issued outside Britain. Yorkshire Bylines
  • [New] The share of electricity in global industrial heat consumption is expected to make little progress over the outlook period, rising by less than half a percentage point to 4.5% in 2026. International Energy Agency
  • [New] Global heat consumption in buildings is expected to remain stable during the outlook period, since energy efficiency improvements counter growth in energy demand from an expanding building stock. International Energy Agency
  • [New] Global modern renewable heat consumption is expected to increase at a faster rate than heat demand, expanding by a quarter (an increase of 5.4 EJ) 3 in the next five years, with the majority of the growth occurring in the buildings sector. International Energy Agency

Last updated: 05 December 2021