Fortescue Invests AU$350 Million in Electric Drill Rigs Amid Green Transition

MT Newswires Live

04/16

Fortescue (ASX:FMG) will purchase autonomous electric platform drills and autonomous electric contour drills from Epiroc in a deal worth AU$350 million, according to a Wednesday statement from the company.

More than 50 electric drill rigs will be delivered by 2030 as part of Fortescue's phased replacement of diesel-powered equipment.

The autonomous electric fleet can eliminate around 35 million liters of diesel consumption annually, the company said.

Fortescue's shares were down 1% in recent Wednesday trade.

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