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$400 million electric heavy equipment order from China is biggest ever (so far)

Fortescue orders XCMG electric mining equipment worth $400 million

Australian mining company Fortescue is making headlines again, after it placed a huge, $400 million order for over 100 new electric equipment assets with Chinese heavy equipment company XCMG (Xuzhou Construction Machinery Group). The deal is the largest single equipment export deal in XCMG’s history.

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More EVs = more mining = more equipment, but not necessarily more miners

In this special, second vacation episode of Quick Charge, we explore the historic dive in global diesel demand, and how the proliferation of EVs large and small is driving growth in the global mining industry – which, in turn, is driving growth in both the electric & autonomous mining equipment markets.

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