More good news kids...in todays Renew Economy newsletter there's an item titled "Fortescue aigns a $350 million deal to switch diesel drill rigs for electric in pursuit of 'REAL zero' ".....None of that NET zero garbage for The Twigmeister!
A coupla salient quotes.....
"Andrew Forrest's iron ore giant, Fortescue Metals continues to put its money where its mouth is.....signing to buy 50 autonomous electric drill rigs to replace existing diesel power kit"
Obviously, long term this is a win, win ,win for mighty Fortescue.....eliminating diesel costs, reducing labour costs and importantly, decarbonizing. This will be Australia's first Pit Viper271 E drill in operation.
"The deal with Swedish outfit, Epiroc is part of Fortescue's plan to swap out 800 pieces of heavy mining equipment with zero emissions alternatives by 2030, and deploy 2-3 GW of renewable energy and battery storage across the Pilbara."
Epiroc CEO, Helena Hedblom, says the deal with Fortescue marks the largest contract the company had ever received.
It's getting exciting, folks! Wesley T Tiger III
FMG Price at posting:
$14.95 Sentiment: Buy Disclosure: Held
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