{"id":81638,"date":"2023-10-18T02:11:17","date_gmt":"2023-10-18T02:11:17","guid":{"rendered":"https:\/\/globalroadtechnology.com\/\/?p=81638"},"modified":"2024-01-15T04:21:32","modified_gmt":"2024-01-15T04:21:32","slug":"fortescue-splashes-23-million-on-zero-carbon-future","status":"publish","type":"post","link":"https:\/\/globalroadtechnology.com\/fortescue-splashes-23-million-on-zero-carbon-future\/","title":{"rendered":"Fortescue splashes $23 million on zero carbon future"},"content":{"rendered":"

Major Aussie iron ore miner Fortescue has cut the ribbon on a new battery innovation hub in the UK. <\/span>Aimed at developing battery-electric technology for its haul truck and vehicle fleet alongside a new electrified motorsport series, the $23 million facility will employ \u201c300 highly skilled workers\u201d, according to Fortescue.<\/span><\/p>\n

The opening comes with a statement by the company that it remains <\/span>on track<\/b> to meet its Scope 1 and 2 decarbonisation effort, due to be completed by 2030.<\/span><\/p>\n

Despite scrapping the idea of hydrogen haul truck technology, Fortescue is still planning on developing its battery-electric technology at scale. This will allow other miners and industrials to purchase items to help them decarbonise.<\/span><\/p>\n

Some of the first batteries produced at the Kidlington UK site will be used to power Fortescue\u2019s prototype 240-tonne mining haul trucks in Australia.\u00a0<\/span>According to Andrew Forrest, Chairman and Founder of Fortescue, the technical innovation centre in Kidlington will drive decarbonisation in motorsports and lead the way to reducing emissions in heavy industry as well.\u00a0<\/span><\/p>\n

\u201cFortescue bought Britain\u2019s best racing battery maker not only to help decarbonise our own operations but to help other businesses to adopt zero-emission technologies as well, and cement the UK as a green technology and manufacturing leader,\u201d he added.\u00a0<\/span><\/p>\n

 <\/p>\n

BHP\u2019s Big Year Continues<\/strong><\/h2>\n

BHP remains Australia\u2019s largest company and the most prominent mining firm in the world, with recent performance underlining why. <\/span>With a strong presence in copper mining and refining, BHP has upped its production of the critical mineral by a considerable <\/span>11%<\/b> in the third quarter of 2023. <\/span>Copper is in high demand as the energy transition progresses, and BHP has a suite of assets capable of growing to meet the global market.<\/span><\/p>\n

The company operates the world’s largest copper mine, located in the Atacama Desert in northern Chile. <\/span>In the 2022\/23 financial year, it produced a staggering 1.72 million metric tons of copper. <\/span>Increasing output from about 1.57 million metric tons in the previous year.<\/span><\/p>\n

BHP has bolstered its copper stocks by purchasing Oz Minerals earlier this year, which owned several copper mining assets in South Australia. <\/span>Its new Prominent Hill and Carrapateena mines in the region, and part of the OZ deal, are performing well, with production up <\/span>44%<\/b> in the year.\u00a0<\/span>According to its quarterly operational review, the company remains confident in delivering full-year production and unit cost guidance across all its assets.<\/span><\/p>\n

\u201cPleasingly, integration of the Olympic Dam, Prominent Hill and Carrapateena assets has gone well, with strong operational performance and continued focus on safe and reliable production, particularly at Olympic Dam and Carrapateena,\u201d BHP said in a statement.\u00a0<\/span><\/p>\n

 <\/p>\n

Rinehart Sinks Albermarle\u2019s Aussie Lithium Dream<\/strong><\/h2>\n

After reporting last week on Gina Rinehart\u2019s backdoor play for Lionheart Resources, the deal has now been officially torpedoed. <\/span>After American miner Albermarle offered $3 per share for Liontown and its enviable lithium assets, Australia\u2019s richest woman was quick to purchase a blocking stake in the company, effectively sinking Albermarle’s takeover hopes.\u00a0<\/span><\/p>\n

Rinehart has now gobbled up almost 20% of Liontown on the open market, making her the company\u2019s largest part-owner.<\/span><\/p>\n

She hasn’t yet revealed if she plans to launch her own takeover bid or request a seat on the board. Meanwhile, her primary focus appears to have been blocking the American offer. <\/span>The death of the <\/span>$6.6 billion deal<\/b> has seen Liontown\u2019s shares enter a trading halt as it tries to secure funding for a proposed $951m development with the US firm.\u00a0<\/span><\/p>\n

According to a statement released by Rhinehart\u2019s Hancock Prospecting firm, it looks forward to building a \u2018prominent influence\u2019 in Liontown\u2019s future.<\/span><\/p>\n

 <\/p>\n

Dust suppression is a critical issue in the world of mining and resources.<\/strong><\/p>\n

Learn more about GRT\u2019s industry-leading and IoT-connected\u00a0SMART Dosing Units<\/a>, and discover how we\u2019re driving better dust suppression solutions for all!<\/strong><\/p>\n

If you\u2019d like to talk with an expert, simply\u00a0contact us<\/a>!<\/strong><\/p>\n

Your feedback is important to us.\u00a0<\/strong><\/p>\n

If you enjoyed reading this Global Road Technology industry update and found it informative, please let us know by leaving a REVIEW<\/a>.<\/strong><\/p>\n

 <\/p>\n

References:<\/strong><\/h2>\n

https:\/\/fortescue.com\/news-and-media\/news\/2023\/10\/13\/fortescue-accelerates-the-manufacture-of-zero-emission-technologies-with-the-opening-of-new-uk-facility<\/span><\/a><\/p>\n

https:\/\/www.bhp.com\/news\/media-centre\/releases\/2023\/10\/bhp-operational-review-for-the-quarter-ended-30-september-2023<\/span><\/a><\/p>\n

https:\/\/stockhead.com.au\/resources\/going-going-albemarle-pulls-the-pin-on-6-6-billion-liontown-mega-lithium-deal-amid-rinehart-shenanigans\/<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Major Aussie iron ore miner Fortescue has cut the ribbon on a new battery innovation hub in the UK. Aimed […]<\/p>\n","protected":false},"author":5,"featured_media":81639,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[],"class_list":["post-81638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-articles"],"yoast_head":"\nFortescue splashes $23 million on zero carbon future<\/title>\n<meta name=\"description\" content=\"Fortescue launches a UK battery hub, BHP sees growth in copper mining, and Rinehart impacts Liontown's future. 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