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Mining giant BHP Group Ltd. (NYSE:BHP) has entered into two separate Memoranda of Understanding (MOUs) with leading Chinese battery firms Contemporary Amperex Technology Co., Limited (CATL) and FinDreams Battery Co., Ltd (FDB), a subsidiary of BYD Co. Ltd. (OTC:BYDDY), to accelerate the decarbonization of its mining operations.
The agreement with CATL focuses on deploying battery technologies for electrifying mining equipment and locomotives, developing rapid charging systems, and exploring battery recycling. The partnership aligns with BHP’s goal of achieving net-zero operational emissions by 2050.
CATL, known for its energy storage and e-mobility innovations, will also collaborate with BHP to assess circular economy solutions, particularly recycling technologies that integrate with BHP’s copper operations.
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Rashpal Bhatti, BHP’s Group Procurement Officer, said the partnership with CATL underscores the company’s commitment to working with technology leaders to create more sustainable resource operations.
In a parallel initiative, BHP’s collaboration with FinDreams Battery Co., Ltd will explore battery solutions and flash-charging infrastructure for heavy machinery and evaluate BYD’s commercial EVs for potential use in mining logistics and diesel displacement efforts.
Jack Li, General Manager of FDB’s Global Commercial Vehicle Business Unit, called the MOU “a pivotal milestone” that reflects both companies’ shared commitment to a low-carbon future.
Both partnerships aim to fast-track electrification in mining, helping BHP lower its carbon footprint while setting a precedent for sustainable practices across the industry.
Related ETFs: Global X Lithium & Battery Tech ETF (NYSE:LIT), iShares Global Clean Energy ETF (NASDAQ:ICLN).
Price Action: BHP shares were trading lower by 0.13% at $52.01 premarket at last check Monday.
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Photo by T. Schneider via Shutterstock
