Hi @WesTigJust in case you missed the announcement in June 2023,...

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TonyIndo

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17/05/24

00:45

Post #: 73868190
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Originally posted by TonyIndo: ↑

Hey Wes, check this out.

Slide 51 of the presentation below highlighted Fortescue's plans with regards to Green Iron.

An opportunity to jointly develop a fully integrated Australia-China green iron supply chain.

and

To provide China with 100Mtpa of green iron, eliminating 220Mtpa of carbon emissions

Points taken...

This will be potential strategic JV partnerships with Chinese Steelmakers.

Fortescue are already producing close to 200mt of IO per annum.

Fortescue will use their patented technology to produce the green iron which will be compatible with Chinese steelmaker infrastructure.

They'll save in costs through their technology.

They already have processing facilities powered by solar & wind with a lot more to come online soon.

They've also highlighted that the green power equipment (renewable equipment and electrolysers) will be supplied by Chinese OEMs to Fortescue's designs.

Fortescue will utilise their existing logistics infrastructure and zero emissions rail solution.

But that's not all.

The green iron will be shipped to China using joint developed vessels. Yes, joint developed vessels! The last time I checked on this, Fortescue had 80+ such shipping vessels with the world's first green ammonia/diesel powered vessel. Are you starting to see how this all ties in with their green ammonia plans?

BUT more importantly how they're forming these strategic partnerships and setting themselves up as a first mover advantage rather than just going it alone.

Reference:

https://cdn.fortescue.com/docs/default-source/uncategorised/jp-morgan-forum-presentation.pdf?sfvrsn=12a31d37_3

Tony

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Hi @WesTig

Just in case you missed the announcement in June 2023, Fortescue formed a partnership with China Baowu Steel Group Corporation (China Baowu) the world's largest steel maker to reduce emissions across iron and steel making.

https://fortescue.com/news-and-media/news/2023/07/10/fortescue-partners-with-world's-largest-steel-maker-to-reduce-emissions-across-iron-and-steel-making

Tony

FMG Price at posting: $26.61 Sentiment: None Disclosure: Held
8 Upvote

0 Great analysis

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