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A greener name and future for Fortescue

Fortescue decarbonisation

Fortescue has officially changed its name from Fortescue Metals Group to simply ‘Fortescue’.

The change was made following shareholder approval at the company’s annual general meeting held on November 21.

The major miner will still list as ‘Fortescue Ltd’ on the Australian Securities Exchange (ASX), and its ASX code will remain FMG.

“The change of name reflects the diversification of Fortescue’s operations as an integrated green technology, energy and metals company,” Fortescue company secretary Cameron Wilson said.

The name change was first announced in July 2023, when Fortescue celebrated its 20th anniversary.

“Fortescue Metals and Fortescue Future Industries (will change) to one brand ‘Fortescue’, to represent being a unified global green metals and energy company,” the company said in its June 2023 quarter report.

Fortescue is already living up to its new name by making various green moves nationally and internationally in November.

Just last week the Fortescue board approved final investment decisions (FID) on the Gladstone PEM50 project in Queensland, the Christmas Creek green iron trial commercial plant in Western Australia, and the Phoenix hydrogen hub in the US.

The milestone marks the first green hydrogen deals ever to be progressed to FID in the US and Australia.

Fortescue founder and executive chair Andrew Forrest also said the company will “rapidly” expand its US presence as a direct result of the Inflation Reduction Act 2022.

To help the company deliver green energy projects and decarbonisation investments, Fortescue has formed a new green energy investment accelerator platform called Fortescue Capital. It will be headquartered in New York City.

The major miner’s climate transition plan will also assist in decarbonising its material, operational, and value chain emissions and ensure it’s prepared and resilient towards climate risks and opportunities.

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