“Mining vehicles come in a wide range of sizes so mining batteries can vary wildly too – from 100 kWh for light vehicles up to 2 MWh for large electric haul trucks. The uniquely large nature of these batteries means they are only now becoming sufficiently developed and competitively priced,” the report reads. “Turnkey battery suppliers, including CATL, ABB, and Northvolt, have developed products that are particularly well-suited to mining vehicles, and their development work is continuing.”
The document notes that lithium-nickel-manganese-cobalt or NMC and lithium-iron-phosphate or LFP batteries are the two battery chemistries that have, so far, been used in mining. In detail, just under 80% of mining vehicles use LFP despite such batteries’ tendency to have lower energy densities, which is not a major concern as mining vehicles are typically already heavy and carry hefty loads of ore.
“Where LFP does win out is in…
