Fortescue is about to turn 21, and with age seemingly comes wisdom, as the company puts it enormously expensive green hydrogen plans on the backburner.
Andrew Forrest’s corporate baby, Fortescue, turns 21 on Thursday. So it seems fitting that the mining billionaire and climate change evangelist appears to have taken stock of what’s economically and technologically achievable in his trailblazing quest to green the planet.
The new strategy will lead to a number of green hydrogen projects being “deprioritised”, Forrest told this masthead on Wednesday, but Fortescue will still hold on to a few.The way Forrest explained it, Fortescue is “pivoting downstream along the conveyor belt”, and when green electricity becomes cheap and abundant enough, Fortescue can go back to fuelling Forrest’s “green hydrogen objectives”.
“Trump always wants to clear the swamp, he would want to reduce the high-cost structure of the swamp, which is the fossil fuel sector.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Andrew Forrest’s Fortescue slashes 700 jobs, tempers green hydrogen ambitionsMining billionaire Andrew Forrest’s Fortescue will slash 700 jobs, as the company tempers its ambition to be a major producer of the clean fuel hydrogen.
Read more »
Andrew Forrest’s Fortescue slashes 700 jobs, tempers green hydrogen ambitionsMining billionaire Andrew Forrest’s Fortescue will slash 700 jobs, as the company tempers its ambition to be a major producer of the clean fuel hydrogen.
Read more »
Andrew Forrest’s Fortescue slashes 700 jobs, tempers green hydrogen ambitionsMining billionaire Andrew Forrest’s Fortescue will slash 700 jobs, as the company tempers its ambition to be a major producer of the clean fuel hydrogen.
Read more »
Andrew Forrest's Fortescue slashing 700 jobs amid green technology commitmentAndrew 'Twiggy' Forrest will axe 700 jobs from mining company Fortescue by the end of July to streamline business.
Read more »
Andrew Forrest's Fortescue to slash 700 jobsThe company announced the redundancies to the stock market this afternoon, as well as the merger of its metals and energy divisions.
Read more »
Andrew Forrest's Fortescue to slash 700 jobsThe company announced the redundancies to the stock market this afternoon, as well as the merger of its metals and energy divisions.
Read more »