Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Teck Resources (TSX: TECK.A and TECK.B, NYSE: TECK) and MEDATech announced this week the pilot of a fully electric on-highway transport truck to haul copper concentrate, marking the first use of a battery-electric truck to haul copper concentrate worldwide. The truck will travel between Teck’s Highland Valley Copper Operations (HVC) in south-central British Columbia and a rail loading facility in Ashcroft.
This pilot of the MEDATech ALTDRIVE-powered fifth-wheel Western Star is a step towards advancing Teck’s goal of displacing the equivalent of 1,000 internal combustion (ICE) vehicles by 2025, the company said, adding it will provide a pathway for the electrification of Teck’s vehicle fleet on the path to achieving the company’s goal of reducing the carbon intensity of its operations by 33% by 2030 and becoming a carbon-neutral operator by 2050.
“Testing and implementing new electric vehicle technologies is one way we are taking concrete steps towards achieving our goal of being carbon neutral across our operations,” said CEO Don Lindsay in a media statement. “We are committed to further reducing the carbon intensity of our operations to support a cleaner future.”
The pilot is expected to begin in summer 2022 and is projected to eliminate 418 tonnes of CO2 annually – the equivalent of approximately 90 passenger cars – for the first pilot vehicle, while also reducing costs through fuel savings and reduced maintenance.
The battery-electric drive system is expected to work more efficiently than a comparable diesel engine, outputting a constant 620kW (approximately 830 horsepower) and is configured to continuously output almost double the amount of torque.
This pilot project builds on Teck’s GHG reduction initiatives, including the recently announced agreement to work towards deploying 30 of Caterpillar’s zero-emissions large haul trucks at its steelmaking coal operations in the Elk Valley.
Comments
Ed Ski
“Testing and implementing new electric vehicle technologies is one way we are taking concrete steps towards achieving our goal of being carbon neutral across our operations,” said CEO Don Lindsay in a media statement.
With the rush to claims of being carbon neutral, I have wondered what products will be used for the vehicles themselves, since they as well will have to be considered carbon neutral in order to succeed being carbon neutral across all operations. Don’t misunderstand me. I am all for a cleaner culture, but even man himself is not a carbon neutral being. I get miffed at all of the ESG and Carbon neutral claims being made by companies.
Sorry for the rant.