American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

BHP and Rio Tinto Join Forces to Test Battery-Electric Haul Trucks in Pilbara Area

by admin May 30, 2024
May 30, 2024
BHP and Rio Tinto Join Forces to Test Battery-Electric Haul Trucks in Pilbara Area

Mining giants BHP (ASX:BHP,LSE:BHP,NYSE:BHP) and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) are teaming up to trial battery-electric haul trucks in Western Australia’s Pilbara region as part of their broader ESG strategies.

The collaboration aims to reduce greenhouse gas (GHG) emissions and drive sustainability in the mining sector.

The partnership will see the trial of two Caterpillar (NYSE:CAT) CAT 793 haul trucks starting in the second half of 2024, and two Komatsu (TSE:6301) 930 haul trucks beginning in 2026. BHP will use the Caterpillar haul trucks, while Rio Tinto will focus on the Komatsu models, with the trial outcomes shared between the two companies.

This initiative marks the first step in testing battery-electric haul trucks at the Pilbara operations of both companies. According to the two major miners, the data and insights they gain from these trials will guide further development and potential large-scale deployment of battery-electric fleets at their operations.

“Operational decarbonization relies on breakthroughs in technology and partnerships like this will help drive our industry forward. We are thrilled to work with Rio Tinto, Caterpillar, and Komatsu on these trials,’ said Geraldine Slattery, BHP president Australia, in a joint press release shared by the companies on Monday (May 27).

Noting the broader implications of the plan, she added, “Replacing diesel as a fuel source requires us to develop a whole new operational ecosystem. We need to rethink how we plan our mines, operate our haulage networks, and manage the additional safety and operational challenges that come with these changes. These trials are critical to our success as we learn how to integrate these new technologies into our operations.”

Rio Tinto Iron Ore CEO Trott expressed similar enthusiasm about the work planned with BHP, commenting, “This collaboration brings together two leading global miners with two of the world’s biggest manufacturers of haul trucks to tackle the critical challenge of zero-emissions haulage. There is no clear path to net zero without zero-emissions haulage, so it’s crucial that we work together to achieve this goal as efficiently as possible.’

Both BHP and Rio Tinto are focused on strong ESG practises. For BHP, the partnership is a step toward the realization of its Climate Transition Action Plan (CTAP), which was first introduced in September 2021. The CTAP outlines BHP’s strategic approach to achieving long-term GHG emissions reduction targets and goals.

In its 2023 fiscal year, BHP reduced its operational GHG emissions (Scopes 1 and 2 from operated assets) by 11 percent from the previous year. The company’s medium-term target is a 30 percent reduction by its 2030 fiscal year, while it has a long-term goal of net-zero operational GHG emissions by 2050.

Rio Tinto has achieved a net 5.5 percent reduction in Scope 1 and 2 emissions from its 2018 baseline, and is progressing toward its target of a 15 percent reduction by 2025 and 50 percent by 2030.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
How to Invest in Tin (Updated 2024)
next post
Operator XR – Sales Update

Related Posts

Nio stock price forecast: buy the dip or...

October 15, 2024

Nikkei 225 jumps over 3%, ending 7-day slide...

September 12, 2024

I’d avoid SCHD and buy these dividend ETFs...

May 29, 2025

EUR/GBP analysis: here’s why sterling is beating the...

December 13, 2024

Alibaba stock forms a triangle pattern: is a...

January 20, 2025

Booking, Airbnb, and Expedia stocks forecasts ahead of...

April 27, 2025

3 reasons S&P 500 index ETFs like SPY,...

March 1, 2025

Nikkei 225 and Topix outlook as the USD/JPY...

September 26, 2024

Here’s why Pi Network, Jasmy, VeChain, Quant prices...

March 30, 2025

How are the Dow Jones index stocks fairing...

April 21, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Kraft Heinz plans breakup, weighs $20 billion grocery spin-off: report

      July 13, 2025
    • Trump’s 50% tariff on Brazil imports to brew trouble for Starbucks and Dutch Bros

      July 13, 2025
    • US to announce 30% tariff on EU and Mexico says Trump

      July 13, 2025
    • Why India is rushing to build bigger banks and what’s standing in the way

      July 13, 2025
    • Wall Street braces for weakest earnings season since 2023 amid market highs

      July 13, 2025

    Categories

    • Business (3,408)
    • Investing (2,624)
    • Latest News (2,017)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved