Featured in Bags of cash – 11-2022

Shining magnate

Mining magnate Andrew “Twiggy” Forrest is the founder and executive chair of Fortescue Metals Group, a major Australian iron ore producer. The company recently announced an ambitious $6.2 billion decarbonization strategy. Meanwhile, a fully owned subsidiary – Fortescue Future Industries – has rapidly become a global player in green hydrogen, along with a host of other technology pathways in the energy transition. Whether it is pushing to decarbonize mining, hashing out headline-making green energy deals, or using the popular “Rick and Morty” cartoon to educate people about the potential of green hydrogen, Fortescue and its shining magnate are talking the talk. But can they walk the walk? Blake Matich reports.

By

Blake Matich

09 Nov 2022

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FFI has developed carbon-free green hydrogen haul trucks to replace diesel trucks for Fortescue’s mining operations. | Photo: Fortescue Future Industries

For some the notion of clean mining is almost a contradiction in terms. New research from the Technical University of Berlin and published in the Journal for Cleaner Production found that the environmental costs of the mining sector amount to as much as $5 trillion annually, with most of the damage attributed to greenhouse gases emitted in …

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