Newmont goes electric

Article Excerpt

NEWMONT CORP., $60.33, remains a buy. The company (New York symbol NEM; Shares o/s: 797.4 million; Market cap: $48.2 billion; TSINetwork Rating: Average; Dividend yield: 3.7%; www.newmont.com) recently announced a strategic alliance with Caterpillar Inc. to work towards mining with net-zero emissions. Newmont will provide an initial investment of $100 million U.S. for the deployment of an all-electric autonomous haulage fleet across two continents. The alliance plans to deliver 26 battery-electric autonomous vehicles by 2027. At its Cripple Creek and Victor mine in Colorado, Newmont will introduce an automated haulage fleet of up to 16 vehicles. Caterpillar will also develop its first battery electric zero-emissions underground truck to be deployed at Newmont’s Tanami mine in Australia by 2026. Newmont is a buy. buy…