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- 🌎 Mining fleet electrification
🌎 Mining fleet electrification
Plus, why Tesla now offers 7-year financing
Welcome back, climate leaders. Did you know there’s now a Chief Sustainability Officer Barbie? Me either.
In today’s edition:
⛏ A look at the electrification of mining fleets
🏦 Tesla now offering 7-year financing
🌎 What is the actual impact of the Mountain Valley pipeline?
Read time: 5 minutes
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EV FLEETS
Source: Unsplash
Driving the News: The mining industry is embracing a new era of low-emission, driverless mine vehicles as it moves toward decarbonization.
The adoption of electric vehicles (EVs) in open pit and underground operations is on the rise, with both new purchases and retrofits of existing diesel fleets.
GlobalData predicts that electrification will gain momentum in underground projects before extending to open pits by the 2030s.
What's Happening: Toyota Motor Corp and Komatsu are pioneering the development of autonomous light vehicles (ALVs) in collaboration with the Autonomous Haulage System (AHS).
Together, they aim to enhance on-site safety, productivity, and navigation by implementing a unified AHS system.
Field testing of the concept ALV is already underway, with a proof of concept expected to launch on a customer site by January 2024.
Cool Planet Group, an Irish decarbonization systems firm, has struck a €50 million deal to retrofit 8,500 diesel mining trucks into electric vehicles over the next three years.
Why It Matters: The electrification of mine fleets promises significant benefits in terms of reduced emissions, enhanced safety measures, and improved working conditions.
By transforming diesel vehicles into electric counterparts, mining companies can not only decrease air pollution but also prevent accidents through collision avoidance systems.
This transition aligns with the broader goal of achieving zero-emission operations and underscores the commitment to sustainability in the mining sector.
What's Next: Australia currently leads the race in autonomous mining trucks, but numerous tech companies worldwide are vying to bring this technology to a wider market.
RRAI aims to integrate autonomous technology into heavy-duty trucks used in mining operations, catering to companies with mixed fleets.
In partnership with First Mode, ABB will supply lithium-ion battery systems for hybrid hydrogen and battery power plants, designed to energize ultra-class haul trucks.
🌶 Hot take: It’s interesting to see the byproduct of ming - EVs that rely on lithium batteries - make it’s way back into the process. But the real win here is likely automation since these jobs are difficult to hire for and fairly dangerous.
HOT TOPICS
💪🏼 Workforce: Reports show young workers are increasingly interested in renewable jobs, but the sector still faces a labor shortage. As hiring in big tech slows down, college students are exploring opportunities in other industries, leading to increased outreach from U.S. energy employers to students.
🚗 EVs: Tesla now offers 7-year financing for new car purchases in the USA, with a new 84-month auto loan option. CEO Elon Musk cites rising interest rates as the reason for the extended financing terms.
🔃 Carbon Capture: Carbon Upcycling Technologies, a Calgary-based circular decarbonization solutions provider, secured $26M in Series A. The funds will be utilized for various commercial projects, including those at cement plants.
🌬️ Wind Power: US announces 8GW of offshore wind zones in central Atlantic. The Bureau of Ocean Energy Management (BOEM) unveils three final wind energy areas spanning 356,550 acres off the coasts of Delaware, Maryland, and Virginia, with a potential to generate 4-8GW of renewable power.
💡 Policy: After 16 years, the US has officially banned the sale of common incandescent light bulbs. The new rule requires a minimum brightness of 45 lumens per watt, effectively outlawing traditional incandescent bulbs.
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CHART OF THE DAY
The Mountain Valley Pipeline, spanning 304 miles and connecting West Virginia's gas fields to the East Coast and Texas, has gained automatic approval and protection from judicial review under the bipartisan debt ceiling deal. But as the chart above shows, the actual increase in natural gas capacity is fairly minimal.
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