Ultramafic and mafic mine tailings are a valuable feedstock for carbon mineralization that should be used to offset carbon emissions generated by the mining industry. Although passive carbonation is occurring at the abandoned Clinton Creek asbestos mine, and the active Diavik diamond and Mount Keith nickel mines, there remains untapped potential for sequestering CO 2 within these mine wastes. There is the potential to accelerate carbonation to create economically viable, large-scale CO 2 fixation technologies that can operate at near-surface temperature and atmospheric pressure. We review several relevant acceleration strategies including: bioleaching of magnesium silicates; increasing the supply of CO 2 via heterotrophic oxidation of waste organics; and biologically induced carbonate precipitation, as well as enhancing passive carbonation through tailings management practices and use of CO 2 point sources. Scenarios for pilot scale projects are proposed with the aim of moving towards carbon-neutral mines. A financial incentive is necessary to encourage the development of these strategies. We recommend the use of a dynamic real options pricing approach, instead of traditional discounted cash-flow approaches, because it reflects the inherent value in managerial OPEN ACCESS Minerals 2014, 4 400 flexibility to adapt and capitalize on favorable future opportunities in the highly volatile carbon market.

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The business case for sustainability can be built upon: (i) cost reduction from efficient resource utilisation, (ii) revenue enhancement, (iii) risk management, and (iv) intangible assets. However, executives often adopt a short‐term perspective owing to executive compensation, investor pressure, and decision‐making criteria tied to fixed financial reporting systems. We propose an integrated conceptual framework, which highlights how firms could embed environment and sustainability into their long‐term financial decision‐making framework. To give this goal structure, the firm could adopt: (i) longer‐term executive compensation plans, (ii) longer‐term financial reporting, and (iii) flexible financial decision‐making models which embed intangibles.

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