According to a Bloomberg report, the world's largest gold miner, Newmont Mining, is constructing their own coal-fired power plant in Nevada, which will save the company around $US50 million per year, while copper miner Phelps Dodge is expanding the use of hedging to include fuel used at mines in Chile.
Canadian-based Barrick Gold has also joined the savings plan by employing the use of 300 tonne trucks to haul more dirt.
The Bloomberg report said energy is the second biggest expense after labour and makes up 10% of operating costs, with Newmont's energy costs climbing 44% in the past year to around $US130 million.
