Cleaner Tech
Fortescue to Spend $6.2 Billion to Curb Iron Ore Emissions
- Forrest looks to replace diesel with renewable energy at mines
- Targets more ambitious than those of larger rivals BHP, Rio
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Fortescue Metals Group will spend $6.2 billion over the next decade to decarbonize its iron ore operations, as the Australian miner founded by billionaire Andrew Forrest attempts to eliminate fossil fuels from its business by 2030.
The Perth-based company will spend $3.2 billion to construct 2 to 3 gigawatts of renewable energy, battery storage, transmission lines and onsite charging infrastructure at its projects in Western Australia’s Pilbara region, it said in statement on Tuesday.