- Balkan Mining and Minerals has executed a Marketplace Platform Agreement with Puro.earth for the identification of CO2 Removal Certificates (CORCs) for its projects in Serbia.
- The Agreement is said to be a result of the Company’s mindfulness of its carbon footprint and environmental responsibilities.
- Backed by this announcement, the shares of the Company gained more than 13%.
ASX-listed exploration Company Balkan Mining and Minerals Limited (ASX:BMM) has signed a Marketplace Platform Agreement with Puro.earth for the detection of CO2 Removal Certificates (CORCs) for its projects in Serbia. The Agreement is a result of the Company’s mindfulness of its carbon footprint and environmental responsibilities.
According to this agreement, Puro.earth will try to identify CORCs for the Company to purchase from 2024 onwards. The announcement revealed that Puro.earth will not enter into a Marketplace Agreement with any other Lithium/Borate Company for the first one year from signing of this Agreement. While the Company will first look to buy adequate CORCs to offset its project and corporate emissions, thus allowing BMM to purchase additional CORCs which it can later on-sell to other parties.
Puro.earth is a platform which aims to mobilise the global economy to honor the carbon net-negative emissions. It assists voluntary corporate buyers accelerate CO2 removal at an industrial global scale. The platform finds out the processes that remove CO2 from the atmosphere.
The online marketplace emphasises merely on carbon removal, aggregating verified CO2 removal suppliers and bringing them together with those who buy their verified carbon removal credits or CO2 Removal Certificates, representing one tonne of carbon removed.
The Agreement reflects Balkan’s commitment towards becoming an actual Carbon Negative Lithium & Borate explorer. Besides, the deal is also an important step towards sustainable development which is only possible if the world cuts down its carbon emissions and work towards environmental protection at the first place. Thus, one can call it a giant step undertaken by the Company for a better tomorrow.