Iron ore giant Fortescue Metals Group has brought forward its net zero emissions target a decade to 2030 by advancing a raft of green hydrogen and ammonia projects. The mining company believes it’s green energy ambitions will demonstrate how the two “missing links” in the battle against climate change can decarbonise supply chains.
Fortescue Metals Group Chairman Andrew ‘Twiggy’ Forrest returned to Western Australia last week after a 4-month worldwide search for green energy projects and resources. One of the deals secured on the trip was a circular partnership with South Korean steelmaker Posco. The deal sees Fortescue supply Posco with iron ore, Posco use said ore to make steel, and Fortescue use said steel for renewable energy projects to make green hydrogen.
In its formal bidder’s statement, Philipines UAC Energy has urged Infigen shareholders to accept its takeover bid of $0.80 a share, while Infigen remained adamant no action should be taken in relation to the “opportunistic” offer. Previously, the acquisition of another prominent renewables developer, Windlab, was greenlit in a landslide shareholder vote.
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