Australian iron ore miner Fortescue Metals Group has stated that it will cut approximately 700 jobs from its global operations as part of its restructuring strategy. The process will be finalized by the end of July.
According to its statement, the company remains resolute in its commitment to achieve net zero by 2030. “The company has undergone a period of rapid growth and transition, and, as part of bringing together Metals and Energy into One Fortescue, initiatives are being implemented to simplify its structure, remove duplication and deliver cost efficiencies,” the statement said. Recently, Fortescue joined forces with Switzerland-based German equipment manufacturer Liebherr to further decarbonize iron ore mining, as SteelOrbis previously reported.