Developing a verification framework for carbon sequestration through mineral carbonation of mine tailings: An Australian context

Abstract

Accelerated mineral carbonation enables the Australian mining industry to capitalize on Ca-, Mg-, and Fe-rich silicate wastes by chemically storing atmospheric carbon dioxide permanently and selling these emissions removals on the international carbon market. Carbon offset credits have maintained a ready market for over a decade. However, there is debate regarding the verification of carbon offset credits, particularly those derived from the mineral carbonation of mine waste and tailings. This paper introduces a novel approach to how mineral carbonation could function within an Emissions Trading Scheme. Similarities are drawn between existing approved methodologies in agroforestry to qualitatively establish key verification parameters for mineral carbonation projects under the Clean Development Mechanism and Joint Implementation. This paper also discusses the potential growth on both the supply and demand sides of the carbon market over the coming decade and beyond to assess the impact of introducing mineral carbonation globally. Examples of market movements in the European carbon market and NordPool provide evidence of reduced market volatility, with the continued expansion mirrored by the international carbon market.