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Miner's green push to help skip fuel woes rocking firms
Fortescue says the project could save $US100 million by 2027 as it expands solar, wind and battery capacity to cut fuel exposure.
- On Friday, Fortescue Metals Group, chaired by billionaire Andrew 'Twiggy' Forrest, accelerated its green energy grid plans by two years, aiming to power all Pilbara mining operations without fossil fuels by the end of 2027.
- Iran's blockade of the Strait of Hormuz disrupted global oil supplies over the past month, forcing Fortescue to seek alternatives to volatile energy markets as fuel costs surged due to the Middle East conflict.
- Solar farms recently delivered 1.2 gigawatt-hours over four days, while the planned grid incorporates 1.2 gigawatts of solar capacity and more than 600 megawatts of wind generation to support operations during fuel crunches.
- Other Australian miners have urged the government to pause emissions reviews to prioritize fuel security, contrasting sharply with Fortescue's commitment to eliminate fossil fuels entirely from its operations by 2030.
- Forrest stated companies could "free themselves from this current war over energy, and the next one" by investing in emissions-free energy, with Fortescue expecting the green energy grid to be fully operational by 2028.
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Fortescue to fast-track large-scale green energy grid; eyes up to $2.5B expansion (FSUMF:OTCMKTS)
Fortescue said it is accelerating the development of "the world's first industrial and fully integrated green energy grid dedicated to eliminating fossil fuels" from its iron ore operations.
·United States
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Fortescue’s iron mining giant, owned by Andrew Forrest, has formally presented what he describes as the world’s first large-scale replicable “green electricity network,” capable of eliminating diesel and other fossil fuels in the heavy industry. Fortescue had already made clear its intention to reach the real zero of emissions and eliminate the burning of all fossil fuels for energy and transportation in its gigantic mines in Pilbara by 2030. It…
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Total News Sources12
Leaning Left4Leaning Right2Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 25%
R 25%
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