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Newmont and Caterpillar Announce Revolutionary Strategic Alliance to Achieve Zero Emissions Mining
DENVER / Nov 10, 2021 / Business Wire / Today, Newmont Corporation (NYSE: NEM, TSX: NGT), the world’s largest gold mining company, announced a strategic
About this update from Newmont Corporation
[{"type":"text","content":"DENVER / Nov 10, 2021 / Business Wire / Today, Newmont Corporation (NYSE: NEM, TSX: NGT), the world’s largest gold mining company, announced a strategic alliance with Caterpillar Inc. (CAT), producer of the world’s most comprehensive suite of mining equipment and technologies, to deliver a fully connected, automated, zero carbon emitting, end-to-end mining system. Together, they will collaborate to create a safer, more productive mine, and substantially support Newmont in reaching their 2030 greenhouse gas (GHG) emissions reduction targets of more than 30%, with an ultimate goal of being net zero carbon by 2050. “A year ago, Newmont announced industry-leading emission reduction targets because we understand the human contribution to climate change. We followed with a commitment to invest $500 million over five years to identify pathways forward as we firmly believe that we must make bold, lasting commitments to achieve the necessary change for a bright, healthy future,” said Tom Palmer, President and CEO of Newmont Corporation. “Today, we furthered that commitment by announcing a new strategic alliance with Caterpillar to address climate change by fundamentally changing the mining industry through the rapid development and implementation of a comprehensive all-electric autonomous mining system to achieve zero emissions mining.” Building pathways to decarbonization is essential for the future of mining. Newmont’s surface and underground mining fleets are responsible for approximately 40% of the Company’s carbon emissions. Building a new model for surface and underground mining is critical to delivering on Newmont’s emissions reduction targets. Newmont will also be supporting Caterpillar’s validation of evolving features and functionality within the MineStar suite to be deployed across Newmont’s surface and underground assets globally. This deployment facilitates centralized production and asset management. “Caterpillar is committed to providing transformational advancements in safety, sustainability and technology,” said Jim Umpleby, Chairman and CEO of Caterpillar Inc. “We share Newmont’s dedication to a reduced-carbon future, and we’re honored to work together on this industry leading effort.” Under the agreement, Newmont plans to provide a preliminary investment of $100 million as the companies set initial automation and elect...