These policy instruments are likely to put upward pressure on fossil fuel-based energy consumption, resulting in an important impact on operating costs of energy-intensive mining activities. There is evidence that stigmatisation of fossil fuel companies, triggered by public divestment campaigns, may increase business uncertainty and have a permanent negative impact on their valuation (Ansar et al., This, coupled with the mining industry’s competition for scarce energy resources with local communities, may pose a significant social risk to the future smooth development of the industry.