Fortescue places $400 million order for electric heavy equipment from XCMG

Australian mining company Fortescue has placed a $400 million order for over 100 electric heavy equipment units from Chinese firm XCMG. This is the largest single equipment export deal in XCMG's history. The order includes various battery electric machines, such as prime movers and graders, to be delivered to Fortescue's Pilbara operations between 2025 and 2030. This move aims to reduce diesel fuel use and support Fortescue's goal of eliminating certain emissions by 2030. XCMG is focusing on sustainable development and has integrated electrification across its product lines. The company reports that new energy products now account for 18% of its revenue, reflecting a shift towards greener technology in the mining industry.