PERTH (miningweekly.com) – Iron-ore major Fortescue Metals has committed that its Fortescue Future Industries (FFI) initiative would award some A$1-billion in contracts to Aboriginal businesses and joint ventures on green energy projects by 2030. 

The commitment comes as the iron-ore company celebrated more than A$3-billion in contracts and subcontracts awarded to Aboriginal businesses and joint ventures since its Billion Opportunities procurement initiative was launched in 2011.

“At Fortescue, we know that strong, sustainable Aboriginal businesses create employment and development opportunities for Aboriginal Australians,” said Fortescue CEO Elizabeth Gaines.

“We are incredibly proud to have partnered with Aboriginal businesses and joint venture partners through our industry leading Billion Opportunities program, providing businesses with the tools to build value and sustainability and improve their competitiveness and capability.

“Today, I am pleased to be at our Cloudbreak mine where we awarded the first contract under Billion Opportunities in 2011, to reflect on the fantastic achievements of this program. These milestones are a credit to the Fortescue team, whose commitment has ensured the success of this initiative which continues to deliver lasting change for Aboriginal communities,” Gaines said. 

FFI is advancing projects across Australia including Tasmania, to build large-scale renewable energy and green hydrogen production capacity. This will expedite the substitution of green hydrogen and green ammonia for carbon-based fuels. These projects will, with the support of Australia’s governments, contribute to a significant reduction in national carbon emissions.

Through FFI, Fortescue is undertaking to deliver several key projects by the stretch target of June 30 this year. This will underpin its pathway to decarbonisation.

These projects include developing a ship design powered by green ammonia and trialling that design in new ammonia engine technology at scale, testing large battery technology in our haul trucks, trialling hydrogen fuel cell power for our drill rigs, and trialling technology on our locomotives to run on green ammonia.

The company would also conduct trials to use renewable energy in the Pilbara to convert iron-ore to green iron at low temperatures, without coal.