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pessimist
you are as powerful as the money you spend ( or don't )
shouting and signs MIGHT work , but money is power
FMG - Fortescue Ltd
- Thread starter GreatPig
- Start date
you are as powerful as the money you spend ( or don't )
shouting and signs MIGHT work , but money is power
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True and when you are in china, you know where money is.
Do not be fooled by the exchange rate..see the wealth in and the wealth out, the change of wealth between countries along the last decades.
World problem #1 is overpopulation,rest is distraction and how i spend my cash has no bearing on this..
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Absolutely frog, more population equals more consumption, more consumption equals more use of finite resources and finite energy. Eventually we go the way of the dinosaurs. Lol
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And Australia massive wealth gain on the last decades is riding the wave of iron coal... thanksfully without the Gretas around to close the mines then
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One of the many steps Fortescue Future Industries is taking to build a massive national/international hydrogen economy. Be interesting to see how the stock market responds and at what stage the returns from the venture are outlined.
FMG has allocated a further $1B seed money for it's wide ranging renewable energy projects.
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FMG could have distributed an extra 10% on it's recent dividends if it didn't go down this road. I for one am delighted to see this investment for my own sake and the bigger picture.
Posted 32m ago32 minutes ago, updated 25m ago25 minutes ago
Fortescue Future Industries founder Dr Andrew Forrest and Queensland Premier Annastacia Palaszczuk announcing the project in Gladstone.(
ABC News: Katrina Beavan
)
Help keep family & friends informed by sharing this article
Fortescue Future Industries (FFI) will build the world's largest green energy hydrogen manufacturing facility in Central Queensland, mining billionaire and company founder Andrew "Twiggy" Forrest says.
The plant will be manufacturing green energy infrastructure and equipment — such as electrolysers, cabling and wind turbines — to create green hydrogen that will be exported across the world.
Mr Forrest said the announcement marked the first stage of a "billion-plus dollar", six-step operation.
The first stage of the operation — which is expected to be completed early next year, has been valued at $115 million — is set to create 120 construction jobs and 53 operational jobs.
www.abc.net.au
reneweconomy.com.au
FMG has allocated a further $1B seed money for it's wide ranging renewable energy projects.
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FMG could have distributed an extra 10% on it's recent dividends if it didn't go down this road. I for one am delighted to see this investment for my own sake and the bigger picture.
New $1 billion-plus project in Queensland to double world's green hydrogen production capacity
By Phoebe HosierPosted 32m ago32 minutes ago, updated 25m ago25 minutes ago
Fortescue Future Industries founder Dr Andrew Forrest and Queensland Premier Annastacia Palaszczuk announcing the project in Gladstone.(
ABC News: Katrina Beavan
)
Help keep family & friends informed by sharing this article
Fortescue Future Industries (FFI) will build the world's largest green energy hydrogen manufacturing facility in Central Queensland, mining billionaire and company founder Andrew "Twiggy" Forrest says.
Key points:
- Fortescue Future Industries' new facility is expected to double the world's green hydrogen capacity
- The $1 billion-plus investment is expected bring thousands of jobs to regional Queensland
- When completed, its green hydrogen manufacturing facility will be the biggest of its kind in the world
The plant will be manufacturing green energy infrastructure and equipment — such as electrolysers, cabling and wind turbines — to create green hydrogen that will be exported across the world.
Mr Forrest said the announcement marked the first stage of a "billion-plus dollar", six-step operation.
The first stage of the operation — which is expected to be completed early next year, has been valued at $115 million — is set to create 120 construction jobs and 53 operational jobs.
Australia will soon be home to the world's largest green energy hydrogen manufacturing facility
Australian mining billionaire Andrew "Twiggy" Forrest unveils plans to build the world's largest green energy hydrogen manufacturing facility in Central Queensland.
www.abc.net.au
Fortescue to invest another $1 billion in renewables, green hydrogen after windfall profit
Fortescue Metals to invest another $1 billion in its renewables division, and will push customers to tackle their 250 million tonne emissions footprint.
reneweconomy.com.au
Last edited:
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Andrew Forrest's First Boyer lecture in January 2021 on why FMG is going hydrogen with a rush.
Reads passionately and well.
www.abc.net.au
Reads passionately and well.
'The solution is hydrogen': Andrew Forrest lays out his plan to address climate change
Green hydrogen gives Australia an opportunity to slash our emissions — and if we get this right, the impact could be nothing short of nation-building, argues business leader Andrew Forrest.
www.abc.net.au
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This Fortesque Future Industries, for someone who doesn't follow FMG and mistrusts 'Twiggy', - is this a subsidiary of FMG and will it therefore leach capital out of FMG? It has a sniff of overreach, hubris and something that could fall flat on its face. I'd be concerned if I were a holder of FMG because it is an iron ore miner. Then again, if an FMG holder I would read up on it.
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I suggest this could be one of the internationalFMG projects that will be using the electrolysers ect produced at Gladstone.
www.australianmining.com.au
Fortescue to build second hydrogen plant - Australian Mining
Fortescue Metals Group is set to develop a green hydrogen plant in Brazil as part of a company plan to remove diesel reliance from mining equipment.
www.australianmining.com.au
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It is a subsidiary of FMG. FMG has allocated substantial funds to enable FFI to begin these projects.
However FFI will have external partners and funding to enable full completion of the projects. The liability for these funds and projects will stay with FFI and this shields FMG from any further downside.
All the upside however goes to FMG.
bk1
Follow the money
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Do yourself a favour and read up on Murrin Murrin and Anaconda.
There is nothing this man can't sell.
There is nothing this man can't sell.
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Just out of interest finicky what do you mistrust about Andrew Forrest ? Are there things he has done that others should be aware of in evaluating his business accumen ?
I do agree on principle that an investor should be careful about the capacity and integrity of the leaders of companies we invest in. (Can think of far too many examples of sharp and dishonest operators interested largely in lining their pockets..)
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Indeed. That was an expensive and spectacular crash.
I found a 4 Corners transcript from 2002 that highlighted the rise and fall of Anaconda. There was a real cast of characters in that show. Rodney Adle, Joe Gutnick.
The failure seemed to be having faith in a fiendishly complex expensive HUGE and untried industrial complex - that that then came spectacularly unstuck.
I take that on board. There is a chance that FFI doesn't come through with everything it proposes. However many of the projects are smaller bite size deals that are within the financial and engineering capacity of FFI/FMG and not anywhere near as ambitious technically.
But a key element in my mind is the financial separation of FFI from FMG. As I said earlier FFI gets an initial stake and then carries the risks of raising partners, capital and development. Their first client will be FMG and FMG will take the profits - but not the losses. If it all l goes to hell in a hand basket FFI goes bankrupt and it's debts die there.
IMV I think FMG is immeasurably stronger than anything Forrest previously ran. I would also be very confident other stakeholders would be determined that the downside financial risks are well controlled. And Twiggy would also want to protect his immense wealth base.
Essentially FMG is investing 10% of it's profits in these new ventures. More significantly it is distancing itself from asny potential finacial disaster by setting up the subsidary company as the vehicle for the developments.
Follow the money in nickel and the man ‘Twiggy’
With a price moving back towards US$20,000 a tonne, nickel has shrugged off the worst of a 20% crash in February and become an investment opportunity where you can follow the money – and “the man”.
smallcaps.com.au
Anaconda -- Four Corners Transcript
TV PROGRAM TRANSCRIPTLOCATION: abc.net.au > Four Corners > ArchivesURL: http://www.abc.net.au/4corners/stories/s646784.htmBroadcast: 12/8/2002 The Mine...
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Nothing wrong with Twiggy wanting to become the Elon Musk of green hydrogen, whether he pulls it off is yet to be seen, IMO right place, right time.
But enthusiasm, doesn't mean a guarantee of success, I certainly hope he does succeed.
The transition to clean energy IMO, definitely includes a lot of hydrogen and the amount required can't be supplied by taxpayer funding, it has to be driven by industry.
But enthusiasm, doesn't mean a guarantee of success, I certainly hope he does succeed.
The transition to clean energy IMO, definitely includes a lot of hydrogen and the amount required can't be supplied by taxpayer funding, it has to be driven by industry.
Hi tech/a,
I was just wondering, out of interest, whether you trade Nick's 20% Flipper with the same parameters as used in the back-test results published in "Unholy Grails"?
Cheers, Rob
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@basilio he strikes me as a high stakes gambler, while admitting his success as an entrepreneur with FMG albeit not that Nickel venture Anaconda. Even with FMG, it always seemed unusually high risk: taking on the majors with a single commodity business and using I believe a lot of debt? Ok, it paid off, but maybe luck was with him?
He has rewarded FMG investors well but as an Australian he has shown himself a China CCP apologist and willing to support CCP propaganda and aggression in the interest of his business. So I wouldn't trust him as a steward of capital or as an Australian fwiw.
Greg Hunt blindsided as Chinese consul-general crashes press conference
Australian Health Minister Greg Hunt was blindsided by a mining billionaire decision to invite a top Chinese diplomat to speak at their press conference.
Value Collector
Have courage, and be kind.
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10% of FMG’s profits are being dedicated to building FFI, 10% will go to mining and 80% gets paid as dividend.
it’s possible it could be a massive cash hole, like when Woolies did Masters and lost a few Billion. But who knows he might just know what he is doing and we end up with a new vertical to invest in with a great return on equity.
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I think we are all confused..or at least i was.
I thought fmg was going to be a major H2 player by producing and using H2 but based on https://www.brisbanetimes.com.au/na...reen-hydrogen-hub-in-qld-20211010-p58yqb.html
not exactly....
Fmg will build power to H2 "plants"..and hopefully use some of them.
Similar as saying we will produce xx MW solar...and build a solar panel factory.
And sorry but the chance of a Qld based manufacturing hub success is zip.
There is no high tech in electrolysis..i was doing it at 9 with 12v batteries
So any qld based unit ,even with taxpayer money help will cost what ? 3 times to 5 times a chinese made similar unit and twice a similar unit made in the US of A?
I hope this FMG Future company is not linked to FMG financially,and will be just an r&d credit,subsidies burning structure.
Good for narrative..even providing below costs H2 units to mothership FMG .
Remember that around 1 billion has been spent by Qld on CCS..carbon capture and storage..and 4 billions to date..yeap was scared :
As carbon capture, storage commitments near $4b, what are the options for heavy industry? - ABC News https://www.abc.net.au/news/2021-08-21/taxpayer-bill-for-carbon-capture-and-storage-hits-4-billion/100375854
So is the H2 hub the new feel good, max cost white elephant?
I thought fmg was going to be a major H2 player by producing and using H2 but based on https://www.brisbanetimes.com.au/na...reen-hydrogen-hub-in-qld-20211010-p58yqb.html
not exactly....
Fmg will build power to H2 "plants"..and hopefully use some of them.
Similar as saying we will produce xx MW solar...and build a solar panel factory.
And sorry but the chance of a Qld based manufacturing hub success is zip.
There is no high tech in electrolysis..i was doing it at 9 with 12v batteries
So any qld based unit ,even with taxpayer money help will cost what ? 3 times to 5 times a chinese made similar unit and twice a similar unit made in the US of A?
I hope this FMG Future company is not linked to FMG financially,and will be just an r&d credit,subsidies burning structure.
Good for narrative..even providing below costs H2 units to mothership FMG .
Remember that around 1 billion has been spent by Qld on CCS..carbon capture and storage..and 4 billions to date..yeap was scared :
As carbon capture, storage commitments near $4b, what are the options for heavy industry? - ABC News https://www.abc.net.au/news/2021-08-21/taxpayer-bill-for-carbon-capture-and-storage-hits-4-billion/100375854
So is the H2 hub the new feel good, max cost white elephant?
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yes there is a company dreaming of a battery manufacturing plant in Nth. Queensland as well , that seems to be dragging as well
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SP jumped today by 5%. Three significant announcements
1) Iron ore up 5% after the Chinese holdiday. Steel makers back in business..
2) Announcement on Friday of major Queensland investment by FFI (FMG renewable energy subsidiary) in manufacture of Hydrogen electrolizers.
3) Another announcement this morning that FFI is developing a pilot plant with Incitiec Pivot to produce green ammonia
www.abc.net.au
www.abc.net.au
www.mining.com
1) Iron ore up 5% after the Chinese holdiday. Steel makers back in business..
2) Announcement on Friday of major Queensland investment by FFI (FMG renewable energy subsidiary) in manufacture of Hydrogen electrolizers.
3) Another announcement this morning that FFI is developing a pilot plant with Incitiec Pivot to produce green ammonia
'Green industrial revolution': Queensland announces plans to mass produce green ammonia
Speaking at Incitec Pivot's Gibson Island facility, CEO Jeanne Johns said a feasibility trial would be conducted in the state to turn green hydrogen into green ammonia, with the potential to secure 400 jobs for "decades".
www.abc.net.au
Queensland will soon be a 'renewable energy superpower'. What could that mean?
Queensland is soon to be home to the world's largest hydrogen manufacturing facility. So what actually is green hydrogen? And how does it work?
www.abc.net.au
Iron ore price rises as China markets reopen after holiday
Dalian iron ore scaled one-month high on China demand optimism.
www.mining.com
