Australian iron ore miner Fortescue Metals Group has announced that it has approved an estimated total investment of approximately US$750 million over the next three years for three green projects in the US and Australia.
Looking at the projects, the Phoenix Hydrogen Hub in Arizona, US, is an 80 MW electrolyzer and liquefaction facility with an annual production capacity of up to 11,000 mt of liquid green hydrogen. The facility with an investment cost of US$550 million will commence production in 2026. In Australia, the company will invest US$150 million in the Gladstone PEM50 Project, a 50 MW green hydrogen project in Queensland. The project has an annual production capacity of 8,000 mt of green hydrogen and will start production in 2025.
Aside from green hydrogen, Fortescue will build a plant in Australia called Christmas Creek Green Iron Trial Commercial Plant with an investment of US$50 million. The plant, which will produce more than 1,500 mt of green iron ore via green hydrogen and green electricity from solar generation, will commence production in 2025.
