Gold Fields Limited set to sell Certified Emissions Reductions
London and Johannesburg - Gold Fields Limited is set to become the world's first gold mining company to sell Certified Emissions Reductions (CERs), the financial securities used to trade carbon emissions.Gold Fields will derive the CERs from the capture of methane gas at its Beatrix Gold Mine in South Africa's Free State province. The company will sell 1,700,000 CERs to European energy trading company Mercuria Energy Trading SA under forward contracts which will run until 2016. The transaction was brokered by TFS Green, the carbon credits broker and environmental business of the worldwide Tradition Group and is estimated to be worth $26 million.
Gold Fields will use the funds to finan...
Posted : June 11, 2010 | 
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