Australian iron ore miner Fortescue Metals Group has announced that it aims to achieve carbon neutrality by 2030, ten years earlier than its previous target. Fortescue Future Industries Pty Ltd, a wholly-owned subsidiary of the company, will be a key enabler of this aim through the development of green electricity, green hydrogen and green ammonia projects in Australia.
Fortescue is seeking to move from being a major consumer of fossil fuel, with a current trajectory of more than one billion litres a year of diesel being used across the company’s operations, to a major clean and renewable energy exporter.
Fortescue Future Industries is advancing projects across Australia including Tasmania, to build large-scale renewable energy and green hydrogen production capacity. These projects, including trialing hydrogen fuel cell power for the company’s drill rigs and conducting trials to use renewable energy in the Pilbara to convert iron ore to green iron at low temperatures, without coal, will contribute to a significant reduction in national carbon emissions with the support of Australia’s government.
Last year, Fortescue announced a target to achieve net zero operational emissions by 2040. This included a 26 percent reduction from existing operations by 2030.