Fortescue green execs exit from senior roles

Two senior executives have left their posts in the latest management shake-up at the resources giant, founded by Andrew Forrest.

Fortescue non-executive chairman Andrew Forrest. Picture: Adrian Dennis/AFP

Two Fortescue executives have departed senior roles as the mining giant finetunes its approach to green energy after a choppy period, scaling back its hydrogen ambitions.

Fortescue Zero chief financial officer Chris Copland left the company’s green technology arm after a two-year stint in the role, according to Companies House filings in the UK.

Mr Copland has been replaced by Rian Urding, who previously worked as finance boss for luxury car brand McLaren Automotive.

As part of 90-strong job cuts announced in May across its hydrogen unit, Fortescue Hydrogen Systems’ chief executive Cameron Smith has also left his role with the company, looking for potential redeployment options within its broader business.

Fortescue in May laid off about 90 staff working on its hydrogen projects, spread across its Queensland electrolyser facility and a hydrogen unit in Western Australia.

While redeployment or redundancy will again be offered, the move underlined the difficulty of developing the hydrogen industry in Australia and abroad.

Fortescue said in May that green hydrogen was “the fuel of the future” and it remained confident in establishing a green iron industry in Australia.

Fortescue founder Andrew Forrest last year abandoned his ambitious green ­hydrogen targets in a major ­business backdown with hundreds of jobs cut after the iron ore mogul pulled back from a goal of producing 15 million tonnes of the clean fuel a year by 2030.

Fortescue is relying on technology breakthroughs as it contemplates building a commercial scale green iron plant in the Pilbara, with the aim of boosting low-grade hematite supplies to high-grade green iron production to compete with superior output from Guinea and Brazil.

It is working on plans for a 1500 tonne a year pilot plant, but is exploring opportunities for an even bigger facility likely to need a multibillion-dollar investment.

Fortescue hopes to produce high-purity green iron from its pilot plant at Christmas Creek, with first supplies due by the end of 2025.