| Term |
Definition |
|
| Greenfield exploration |
Exploration which aims to establish completely new operating business units, involving geographic or commodity diversification away from existing Group operations. |
|
| Brownfield exploration |
Exploration is directed at sustaining or growing the existing Group business units. With processing infrastructure already in place, capital expenditure requirements for developing brownfield orebodies are usually lower than in a greenfield setting. |
|
| Tier 1 resources |
Large, low cost resources that are profitable at all parts of the natural price cycle and deliver a sustainable competitive advantage. |
|
| Offset |
Offsets are conservation actions designed to compensate for the unavoidable residual impacts on biodiversity caused by mining and processing. |
|
| EITE |
Energy intensive trade exposed (industries). Business sectors with high emissions that cannot pass on the cost of carbon because they do not set the price of their products. This creates an incentive to relocate the businesses to a country that does not tax or trade carbon emissions. This process is called carbon leakage. |
|
| CPRS |
(Australian) Carbon Pollution Reduction Scheme. Legislation which will introduce an emissions trading scheme in Australia |
|
| ISA |
International sectoral agreement. A binding agreement within an industry, represented in a number of countries, whereby the industry agrees on an approach to address emissions. |
|
| Greenhouse gas |
A gas which will have a warming influence on the Earth, if its concentration in the atmosphere increases. These gases include carbon dioxide (CO2 ), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs) and sulphurhexafluoride (SF6) |
|
| CCS |
Carbon capture and storage. In these processes, carbon dioxide is separated from other gases, liquefied and stored in existing underground chambers such as old natural gas fields. |
|
| Climate change |
A change in the state of the climate that can be identified (eg using statistical tests) by changes in the mean and/or the variability of its properties, and that persists for an extended period, typically decades or longer. It refers to any change in climate over time, whether due to natural variability or as a result of human activity. |
|
| CPRS |
(Australian) Carbon Pollution Reduction Scheme. Legislation which will introduce an emissions trading scheme in Australia |
|
