Andrew Forrest's Fortescue is walking from its two most advanced green hydrogen projects at a cost of $227 million in write-downs while reporting bumper iron ore results.
Fortescue has announced that mining boss Dino Otranto will take on a broader leadership role after the departure of green energy CEO Mark Hutchinson and COO Shelley Robertson.
WA's peak mining lobby group has welcomed a $750 million commitment for green metals projects, announced by Anthony Albanese during a visit to Perth today.
Falling commodity prices and growing budget deficits should provide the impetus for Australia to build a green iron industry, according to the boss of Fortescue Metals.
Fortescue ended the 2024 financial year with a profit of $US5.7 billion ($A8.39 billion), an 18 per cent growth from the previous reporting period, while announcing an increase in dividends.
A hydrogen haul truck, red dirt sod turning, and proof ore can be mined without emitting any carbon: it was a big day for Andrew Forrest and Fortescue at Christmas Creek
Australia could lose its leading global iron ore role to Africa, Brazil, and Europe without stronger efforts to fund Pilbara green iron plans, according to Fortescue boss Dino Otranto.
Mark Beyer and Mark Pownall discuss the week in lithium; construction issues; Fortescue's share price tumble; inflationary data; interest rates; house prices; CFMEU action; and Rex's plight.
The state government will spend $20 million on a road to connect the Oakajee Strategic Industrial Area to the North West Coastal Highway, in a bid to activate a new renewables hub.
Green hydrogen is not economic right now, Gabon iron ore has Chinese steel mills salivating, Oakajee remains a mystery, and South American copper has piqued Fortescue's interest.
Andrew Forrest has used a National Press Club address to hit out at fossil fuels and nuclear energy, while calling on Australian policymakers to “get on with” facilitating a renewable revolution.
Fortescue is set to pay out $3.32 billion in dividends after a substantial lift in its interim profit, with the biggest beneficiaries being Andrew and Nicola Forrest.
Fortescue Metals Group will need to spend an extra $US100 million to repair a faulty water pipeline at its Iron Bridge project but has otherwise reported strong half-year production results.
Fortescue is on the cusp of marking a major milestone of exporting its first iron ore from a port outside of its home soil at its Belinga project in Africa.
Fortescue's proposed multi-billion-dollar renewable energy hub in the Pilbara has been shelved as the miner insists it will meet bold decarbonisation targets by 2030.
New Fortescue Metals chief Dino Otranto is resolute the miner will meet aggressive decarbonisation targets by 2030, as a fledgling green energy hub starts to take shape.
ANALYSIS: This week's departure of three senior people from Andrew Forrest's Fortescue Metals Group highlights just how different the Perth company is from its ASX peers.
Fortescue Metals' newest mine will incur a significant write-down because of delays and inflationary stressors, as spending at the 1,700-strong Fortescue Energy division kicks up a gear.
Fortescue Metals chief executive Fiona Hick leaves Andrew Forrest's iron ore business without explanation following a mutual agreement with the board, six months after she started.
Three of the biggest mining companies in WA have launched a program in their bid to combat sexual harassment, bullying and racism in the resources industry.
