<
https://reneweconomy.com.au/fortescue-says-ditching-fossil-fuels-is-a-no-brainer-so-why-arent-other-companies-rushing-to-follow/>
"Andrew Forrest’s iron ore and green energy giant Fortescue has been slapped
down on multiple occasions for its failure to deliver on its green hydrogen
“hopium” – understandably so given that its ambition proved to be well before
the technology and the market was ready.
Now, however, attitudes may be about to change. Not for hydrogen, but for 100
per cent renewable power and full electrification. The call to “electrify
everything” is about to be delivered most spectacularly at one of Australia’s
most profitable companies and one of its biggest energy users.
Forrest has laid down an ambitious target to eliminate the burning of fossil
fuels entirely from its giant Pilbara mining operations. Not just in a few
decades, but by the end of this decade. And it is now so confident of success
that it is fast-tracking, rather than slowing down, the transition. It could be
achieved within three years.
Unlike its hydrogen plans, Fortescue has now struck upon the perfect
intersection of technology and geopolitics, where the cost of renewables and
particularly battery storage has plunged just as fossil fuel prices soar,
driven by Donald Trump’s stunningly inept, illegal and highly consequential war
on Iran.
The impact on Australian miners from the fossil fuel crisis is already being
seen. Diesel prices have jumped by round 50 per cent, and long term supplies
remain uncertain. Margins are being crunched.
Some lucky mining companies who had already figured out the economics and chose
renewables over fossil fuels for their power supplies are feeling vindicated –
like Bellevue Gold and, ironically, the Gina Rinehart lithium play Liontown
Resources.
These companies are now sourcing between 80 and 90 per cent of their power
needs from wind and solar, and haven’t yet started on their truck
electrification campaign.
But what Fortescue is doing is of another scale – its planed investment in
wind, solar and storage is 100 times greater than that of either Bellevue or
Liontown, and it is also aiming for the complete elimination of diesel from
terrestrial transport, including its excavators and bulldozers and its fleet of
nearly 400 giant haul trucks."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
