Following a competitive bid process, Artemis Gold Inc. has executed binding agreements with Finning, a Caterpillar dealer based in Canada, for the supply of a primary and ancillary mining fleet for its Blackwater gold project in central British Columbia. The company also executed a $140 million equipment lease facility with Cat Financial Services Ltd. associated with this order, as well as an agreement with Cat regarding the supply of a future zero-emission haul fleet.
“The execution of these agreements provides Artemis certainty of equipment pricing and equipment availability for Blackwater’s planned mining and construction activities,” Artemis Chairman and CEO Steven Dean said. “Of equal significance, partnering with Cat provides the project with a pathway toward decarbonization of Blackwater’s haul fleet. With access to BC Hydro’s clean power, the transition to an electrified fleet as soon as 2029 provides Artemis a pathway to significantly reduce the carbon footprint of the project.”
He added that this is consistent with Artemis’ Environmental, Social, and Governance goals to responsibly develop the Blackwater gold project, and identify innovative ways to reduce the company’s impact on the environment while providing generational opportunities in the communities where it operates.
Under the supply agreements, Finning has secured equipment pricing for the primary fleet until December 31, 2024. The order includes Cat 793F haul trucks and hydraulic shovels, along with product support for a five-year period with an extendible term for up to an additional 5 years. Through the agreement with Cat, Artemis also has the option to place orders for Cat’s zero-emissions haul trucks, currently under development, for shipments beginning in 2029.
