Electric haul trucks could save Fortescue over $400 million in fuel per year

Fortescue is marching towards zero emissions as it invests in new, zero-emission mining equipment options across its global operations. And that investment? It’s already paying off. One analyst says the company’s saving almost $400 million in fuel costs alone. Each year.

From massive, Liebherr-built electric haul trucks and excavators to more than $400 million in Chinese equipment from XCMG, Fortescue is putting its money where its mouth is and making real efforts to decarbonize its global mining operations.

“We’re moving rapidly to decarbonize our Pilbara iron ore operations and eliminate our Scope 1 and 2 terrestrial emissions by 2030. To achieve this target, we will need to swap out hundreds of pieces of diesel mining equipment at the end of their life with zero emissions alternatives,” said Fortescue Metals Chief Executive Officer, Dino Otranto, when the XCMG order was announced. “As the global mining industry continues to evolve, we’re proud to be at the forefront of driving innovation in value adding green technology and showing the world that industry can decarbonize.”

Those efforts aren’t just cutting back on air pollution. Electric equipment assets are helping to keep the company’s workers safe and healthy, too. What’s more, they’re saving the company money – they’re already seeing $300-400 million in fuel savings annually.

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Liebherr T264 electric haul truck

The Liebherr T264 electric haul trucks now working for Fortescue defy common sense notions of size, scale, and power. Each truck tips the scales at 176 tonnes (194 tons) and can haul more than 240 tonnes (265 tons) of payload thanks to powerful electric motors and a big-as-a-house-sized 3.2 MWh battery that can be recharged in a little over 30 minutes by Liebherr’s proprietary 6 MW DC fast charger.

If you could keep the car from exploding, that 6 MW (that’s 6,000 kW to you and me) charger could zap a Tesla Model Y Long Range’s 75 kWh battery in some thirty (30) seconds.

“Fortescue has ordered 360 of (T264 battery electric haul trucks) as part of a $4 billion deal with Liebherr to electrify operations at its enormous iron ore mines,” says Gavin Mooney, general manager at Australian energy software platform, Kaluza. “Fuel and energy costs are Fortescue’s biggest operating costs as well as largest source of emissions. By electrifying operations like this it will be able to kill two birds with one stone.”

Battery electric vehicles have moved millions of tons of material at Fortescue mines over the last two years alone, and continue to keep the minerals moving with minimal less impact to the environment.

Electrek’s Take

With billions of dollars on the line and pressure to reduce carbon emissions coming from all sides, it should come as no surprise that the race is on to bring practical, electric, and autonomous heavy mining equipment to market. At CES 2024, electric equipment from Hyundai, Bobcat, Volvo CE, and Caterpillar garnered lots of attention with their innovative concepts, and analysts like IDTechEx estimate that a single 150-ton haul truck can use over $850,000 worth of fuel in a single year.

Meanwhile, big electric haul trucks like this 240 ton unit from Caterpillar can, in certain use cases with high amounts of regenerative braking, operate without any significant cost to recharge. At that point, the reduced maintenance and downtime of BEVs compared to diesel vehicles becomes icing on the TCO cake.

We spoke to Fortescue Zero executives a few months ago on a special interview episode of Quick Charge. Check it out (above) then let us know what you think of Fortescue’s fuel savings in the comments.

Sources links throughout; featured image by Fortescue Zero.

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