So if you actually followed FMG you would understand that all major projects go to the board for FID, i.e. approval of the funding.
Have a read of the announcements regarding Pilbara Net Zero:
https://fortescue.com/docs/default-source/announcements-and-reports/climate-transition-plan.pdf?sfvrsn=45690705_11
https://cdn.fortescue.com/docs/default-source/announcements-and-reports/2439388.pdf?sfvrsn=72c11d06_16
Now regarding other projects, only three have been approved by the board. If you want more details on those, ask, or I'm happy to educate you:
- https://fortescue.com/what-we-do/our-projects/christmas-creek-green-iron-pilot
- https://fortescue.com/what-we-do/our-projects/gladstone-green-energy-manufacturing-centre
- https://fortescue.com/what-we-do/our-projects/arizona-hydrogen
https://cdn.fortescue.com/docs/default-source/announcements-and-reports/2644422.pdf?sfvrsn=a008e01c_14
Yes there is a lot of OPEX being spent to build up the project pipeline, but all project sign-off requires a solid business case.
Trouble at t' mill, page-15
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