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Australian FMG to invest $6.2 billion in decarbonization

22 Sep 2022 15:12 reported by Stanley Wang

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Australian iron ore company Fortescue Metals Group (FMG) said it will invest US$6.2 billion by 2030 to decarbonize its operations. The company aimed to reach real zero terrestrial emissions by 2030; it planned to reduce CO2 emissions by 3 million metric tons annually.

Most of the investments are planned to implement between 2024 to 2028. It includes an additional 2-to-3 gigawatts of renewable energy generation and battery storage and green mining trucks and trains fleet.

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