Fortescue looks to shed executive layers
Fortescue’s sweeping restructure goes far beyond removing the duplication of backroom functions between its energy and mining arms, with the company sweeping out layers of management.
Fortescue’s sweeping restructure goes far beyond removing the duplication of backroom functions between its energy and mining arms, with the company sweeping out layers of management.
Rare earth prices are still sitting around five year lows, but a strong outlook has helped Arafura lock in debt deals worth more than $US1bn.
South32 has warned the long-term viability of its Worsley alumina operations is in doubt due to ‘beyond reasonable’ environmental conditions.
A former SAS soldier turned PI is the man behind an extraordinary investigation into Andrew Forrest’s former staff, and he’s led a colourful life.
Andrew Forrest caught the market by surprise in 2020 when he laid out his vision for a green energy giant. And even after a tumultuous four years, he insists his dream is not dead.
Andrew Forrest says Labor should continue to support green hydrogen producers, but says high energy costs must be lowered to secure the fuel source as a viable export industry.
If energy isn’t cheap enough to make hydrogen viable, Fortescue will build renewable energy generation until it is, Andrew Forrest says.
A lack of funding for maintenance and safety risk programs has been blamed on the 2021 explosion and ongoing shutdown of one of Queensland’s largest state-owned power stations.
For years Fortescue argued that it could make hydrogen into a cheap energy source. The company has finally conceded it operates in the same world as the rest of us.
Andrew Forrest has launched a sweeping restructure at Fortescue in the face of the company’s failure to deliver on its green energy promises.
Original URL: https://www.theaustralian.com.au/author/nick-evans/page/24