Fortescue Metals Group has set a net zero operational emissions target for 2040, with the Iron Bridge magnetite project to come into alignment when it starts operating.
This is core to Fortescue’s decarbonisation strategy, including reducing scope one and two emissions from existing operations by 26 per cent from 2020 levels.
Fortescue chief executive Elizabeth Gaines said the company was a supporter of the Paris Agreement.
“Fortescue supports the Paris Agreement long-term goal of limiting global temperature rise to well below two degrees Celsius above pre-industrial levels, and our emissions reduction targets align with this international objective,” she said.
“Our success will be founded on practical initiatives that will allow us to deliver on our targets in an economically sustainable manner.”
Fortescue plans to decarbonise its mobile fleet through the next phase of hydrogen and battery electric energy solutions.
The company has also partnered with Alinta Energy in the Chichester solar gas hybrid project in Western Australia.
Gaines said the project was well advanced for the installation of 60 megawatt of solar generation at the Chichester Hub, which comprises Fortescue’s Christmas Creek and Cloudbreak iron ore mining operations.
Fortescue is also investing $US700 million ($1 billion) in the Pilbara Energy Connect program, which when combined with the Chichester project, will deliver 25–30 per cent of its stationary energy requirements from solar power.
It has also signed a partnership agreement with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) to develop its metal membrane technology that provides the potential for bulk transportation of hydrogen through ammonia.
“Mining is one of the most innovative industries in the world and Fortescue is harnessing this technology and capability to achieve carbon neutrality with a sense of urgency,” Gaines said.
Fortescue expects to commence operations at Iron Bridge in mid-2022.