Anglo invests $200m to accelerate zero emissions haulage solution
JOHANNESBURG (miningweekly.com) – Diversified mining company Anglo American has signed a binding agreement with First Mode, the specialist engineering technology company it partnered to develop the nuGenTM technology.
The agreement is intended to accelerate the commercialisation of the climate-friendly truck and includes Anglo investing an additional $200-million in the combined business to help fund ongoing development.
The London- and Johannesburg-listed mining company will next year enter into a supply agreement with First Mode to decarbonise its global fleet of 400 haulage trucks in support of its 2040 carbon neutral operations goal.
Roll-out is subject to the completion of agreed studies across seven mine sites, certain performance and cost criteria, and relevant regulatory, corporate and shareholder approvals.
Provision of supporting infrastructure such as refuelling, recharging, and facilitation of hydrogen production is included.
The capabilities exist to develop present opportunities beyond Anglo's own haul truck fleet, including across other industries that rely on heavy duty forms of transport, such as rail.
The new combined business will allow strategic third parties to co-invest, offering the opportunity to accelerate their own decarbonisation and participate in the potential offered by clean hydrogen technology.
The new combined business retains the First Mode name and will prioritise building on three years of extensive co-development, Anglo stated in a release to Mining Weekly .
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