POWER!!!! Fortescue Future Industries, page-4279

First 4279 Last

Share
Profile

Follow
gasoroil

2,030 Posts.

232

16/08/24

07:22

Post #: 75230541
Share

Originally posted by TonyIndo: ↑

What Fortescue are proposing is green mining and they're well on their way in their own in house operations. Large scale renewable power and infrastructure never before seen to make green hydrogen to produce green iron which is 95-97% green steel.

How can this be achieved?

China has the supply of green equipment ie solar, wind and other important equipment that will potentially provide Fortescue with the designs and plan to move forward on this massive project. Fortescue have already showcased their first green iron sample to China and what is potentially possible, however they need a world leading partner such as China and all Chinese steel mill partners to distribute the green metal all over China. This is with green electricity and Fortescue are leading on this worldwide by years.

This is a once in a lifetime opportunity to jointly develop a fully integrated Australia-China green iron supply chain to provide China with 100Mtpa of green iron, eliminating 220Mtpa of carbon emissions.

The iron ore will be mined using Fortescue’s green equipment. The 200Mtpa of green iron ore will be produced from Fortescue's Pilbara Operations and will be mined using their green equipment.

Fortescue’s processing facilities will be powered by solar & wind and the green power equipment will be supplied by Chinese OEMs ie renewable equipment & electrolysers for Fortescue's designs.

In summary, they will utilise green hydrogen, they'll develop all of this in partnership with Chinese steelmakers, they'll produce a high grade iron product that is compatible with Chinese steelmaker infrastructure and they'll use Fortescue's existing logistics and infrastructure to transport the product wherever it needs to go.

How will they ship the green iron product?

By utilising their ammonia powered vessels and also the jointly developed vessels.

Sound like a world changing transformational plan? I think so.

Let's see what transpires.

Tony

Expand

meanwhile the share price collapses.

FMG Price at posting: $16.82 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

What's causing the cost-of-living crisis, and how to navigate it

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war