According to sources, with the increase in iron ore prices, Fortescue's net profit was 940 million dollar in December last year.
Andrew Forrest, founder of Fortescue Metals Group, reports that the company plans to build Australia's first green steel plant this year. In the following years, he said, a commercial plant would be built in the Pilbara.
The first of the company's production methods for fresh steel is to replace coal with hydrogen and add carbon. The second is to completely abandon the blast furnace and use only green electricity in the steelmaking process.
Andrew Forrest reports that FMG produces more than 2 million tonnes of greenhouse gases per year, with Australia's iron ore production accounting for more than 40% of global production.
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