Anglo American to Combine Zero-Emissions Haulage Solution With First Mode, Invest $200 Million
December 07 2022 - 10:45AM
Dow Jones News
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.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
December 07, 2022 10:30 ET (15:30 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Anglo American (LSE:AAL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Anglo American (LSE:AAL)
Historical Stock Chart
From Apr 2023 to Apr 2024
