BHP Signs Strategic Partnerships with BYD's FinDreams Battery and CATL for Decarbonization

On July 14, Australian mining company BHP signed strategic cooperation memorandums with FinDreams Battery, a wholly-owned subsidiary of Chinese electric vehicle manufacturer BYD, and China’s battery manufacturer CATL. This collaboration aims to leverage the technological advantages of Chinese companies to promote the decarbonization transformation of BHP's mining operations. FinDreams Battery, as a global leader in battery manufacturing, has significant advantages in the research and production of commercial vehicle battery systems, power batteries, and energy storage batteries. The focus of the partnership between BHP and BYD will be on the joint research and development of power battery solutions for heavy mining equipment and locomotives, as well as the construction of supporting fast-charging infrastructure. Both parties will also assess the application potential of BYD's commercial and light electric vehicles in mining operations to accelerate the replacement of traditional diesel-powered vehicles. Simultaneously, as a leader in innovative energy technologies, CATL is committed to advancing the goal of a net-zero future through advanced technology. CATL's innovations in cutting-edge battery technology and energy solutions provide new possibilities for accelerating the decarbonization transformation in mining. BHP will explore feasible pathways for the electrification of mining operations in collaboration with CATL, jointly developing specialized batteries for mining equipment and locomotives, while focusing on fast-charging infrastructure, energy storage system optimization, and battery recycling solutions. Through its partnership with CATL, BHP aims to establish a more sustainable value chain in copper mining operations, promoting the development of a circular economy in the mining sector. This collaboration aligns closely with BHP's long-term goal of achieving net-zero operational emissions by the fiscal year 2050. In the face of global decarbonization pressures, BHP is actively seeking innovative solutions to address direct and indirect carbon emissions generated during its operations (i.e., Scope 1 and Scope 2 emissions). As the demand for key battery raw materials such as lithium and nickel continues to grow, the issue of carbon emissions during mining operations has become increasingly prominent. The relatively concentrated nature of mining operation areas means that electric vehicles do not have to worry about range anxiety, making them an ideal green transportation solution. FinDreams Battery and CATL also hope to promote their technologies to the global market through collaboration with BHP.