Anglo American to Develop Hydrogen-powered Mine Haul Truck

by Rudy P. SysAdmin at howtofindthemoney
Anglo American partnership with French energy services giant ENGIE to develop hydrogen-powered mine haul truck shows miners are “seriously considering the potential”, said JP Morgan.

Analysts said that prospects of using hydrogen as a fossil fuel alternative, both wider economy as well as within the global mining and steel sectors, is gaining traction with corporates, investors, and policymakers.

Last week, the EU published a hydrogen strategy roadmap as part of its goal to reach carbon-neutrality by 2050, which includes commissioning 6 gigawatt of green hydrogen electrolysis capacity by 2024 and 80 gigawatt by 2030.

According to JP Morgan, this could be supportive of long-term platinum group metal demand from hydrogen fuel cells and a potential long-term risk to coking coal demand.

“Further development of fuel cell electric vehicle mining trucks could present significant implications for long-term sector capital expenditure (ie fleet replacement),” analysts added.

About Rudy P. Magnate II   SysAdmin at howtofindthemoney

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Created on Jul 15th 2020 03:06. Viewed 149 times.


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