Fortescue strikes US$2.8B green equipment deal with Liebherr

Fortescue (ASX:FMG) announced the expansion of its partnership with global equipment manufacturer Liebherr for the development of zero emission mining solutions.

The US$2.8 billion ($4.06 billion) agreement aims to create one of the world's largest zero-emission mining fleets through a significant increase of supplied machines to around 475 units.

The partnership builds on an agreement established in June 2022, with a focus on transitioning Fortescue's diesel mining fleet to zero emissions.

Fortescue's Executive Chairman, Andrew Forrest AO, stated, "This is an important next step in our 2030 Real Zero target – to eliminate emissions from our Australian terrestrial iron ore operations by the end of the decade."

Liebherr will provide approximately 360 autonomous battery-electric trucks, 55 electric excavators, and 60 battery-powered dozers, which amounts to roughly two-thirds of Fortescue's current mining fleet.

"The T 264 battery electric truck, powered by a Fortescue Zero battery power system, will be one of the first zero emission solutions for mine haulage in operation globally," said Fortescue Metals CEO Dino Otranto.

Deliveries began in October 2023, aligning with Fortescue's fleet replacement cycle and sustainability goals by 2030.

The collaboration also marks the largest equipment deal in the 75-year history of Liebherr, and a significant contractual milestone for Fortescue.

Fortescue has also developed a stationary fast charging solution for the autonomous battery-electric truck fleet, capable of providing up to six megawatts of power and charging the T 264 truck in 30 minutes.