Anglo American to Combine Zero-Emissions Haulage Solution With First Mode, Invest $200 Million

By Kyle Morris

Anglo American PLC said Wednesday that it has agreed to combine its nuGen zero-emissions haulage solution with First Mode Holding Inc., investing $200 million in the combined business.

The multinational mining company said the deal values the business at around $1.5 billion and will result in Anglo American owning a majority shareholding in First Mode.

Upon completion, expected in January, Anglo American will enter a supply agreement with First Mode to decarbonize its global fleet of ultra-class mine haul trucks.

First Mode, a specialist engineering technology company, partnered with Anglo American to develop the haulage solution.

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(END) Dow Jones Newswires

12-07-22 1030ET