The pair said the alliance would deliver "a fully connected, automated, zero carbon emitting, end-to-end mining system" to create a safer, more productive mine and help Newmont reach its carbon reduction goals.
Newmont will invest a preliminary US$100 million and is aiming for an all-electric, autonomous haulage fleet.
Under the alliance, Caterpillar would develop its first battery electric zero-emissions underground truck, to be deployed by 2026 at Newmont's Tanami mine in Australia's Northern Territory.
The pair would also introduce an automated haulage fleet at Newmont's Cripple Creek and Victor mine in Colorado, US, through 2023, with a transition to electrification.
Newmont recently commissioned a fully autonomous haulage fleet at its Boddington mine in Western Australia.
Newmont CEO Tom Palmer said the alliance built on the gold miner's commitment of $500 million towards its aim of reducing greenhouse gas emissions by more than 30% by 2030 and being net zero by 2050.
"Today, we furthered that commitment by announcing a new strategic alliance with Caterpillar to address climate change by fundamentally changing the mining industry through the rapid development and implementation of a comprehensive all-electric autonomous mining system to achieve zero emissions mining," he said.
Newmont said its surface and underground mining fleets were responsible for about 40% of the company's carbon emissions.
The miner would also support Caterpillar's validation of its MineStar suite, which facilitates centralised production and asset management, to be deployed across Newmont's surface and underground assets globally.
"Caterpillar is committed to providing transformational advancements in safety, sustainability and technology," chairman and CEO Jim Umpleby said.
"We share Newmont's dedication to a reduced-carbon future, and we're honoured to work together on this industry leading effort."
Caterpillar had formed a partnership with BHP in August, to develop and deploy zero-emissions battery electric mining trucks at BHP sites, to help the mining giant reduce its operational greenhouse gas emissions.
