Fortescue extends autonomous mining truck agreement with Caterpillar

Caterpillar (NYSE: CAT) renewed its autonomous haulage system contract with Fortescue Metals Group's Australian operations, extending a partnership that began with the world's first commercial-scale deployment of the technology in 2012.

The agreement covers Cat MineStar Command technology across three Fortescue mining sites in Western Australia, operated by Chichester Metals Ltd and FMG Solomon PTY Ltd.

Fortescue pioneered large-scale autonomous mining when it deployed Caterpillar's system 14 years ago, marking a significant shift in mining operations. The technology uses self-driving trucks to transport materials without human operators, improving safety and operational efficiency.

"Fortescue has led the industry in the large-scale deployment of autonomous haulage for more than a decade," Dino Otranto, CEO of Fortescue Metals and Operations, said. "This agreement ensures continuity in the use of Cat MineStar Command across parts of our operations, supporting safe, reliable and efficient performance on site."

The autonomous haulage market has grown substantially since Fortescue's initial deployment. Research firm GlobalData projects the autonomous mining equipment market will reach $4.3 billion by 2030, driven by demand for improved safety and productivity.

Mining companies increasingly adopt autonomous systems to address labor shortages and reduce safety risks. Rio Tinto operates the world's largest autonomous fleet with over 400 trucks across its Pilbara operations, while other major miners including BHP have deployed similar systems.

"Our work with Fortescue on autonomous haul trucks and systems to drive operational improvements at site has been longstanding," Marc Cameron, senior vice president of resource industries sales, services and technology at Caterpillar, stated. "The Caterpillar team looks forward to furthering this advanced technology deployment and leadership built on the foundation of innovation set over a decade ago."

The extended agreement supports Fortescue's emissions reduction goals under its 2030 Real Zero Target, which aims to eliminate operational carbon emissions by decade's end.

Caterpillar reported autonomous hauling systems have delivered productivity gains of up to 15% while reducing maintenance costs and improving safety metrics at mine sites globally.

Shares of Caterpillar closed Friday at $347.82.

More information is posted at www.Caterpillar.com and www.Fortescue.com/en