FMG - Fortescue Ltd

[basilio]

The Federal budget is proposing a $2Billion support for big hydrogen projects in Australia. Twiggy has put his hand up to move FMG projects NOW. FMG has 5 projects ready to roll. I think the Labour Government will move decisively on these projects before the year is out.
From a Government POV they could expect some clear progress in the short time frames that Twiggy demands of his business operations.

‘Do it immediately’. Why Fortescue boss Twiggy Forrest says the federal budget’s green hydrogen plans can’t wait​

Energy Minister Chris Bowen called green hydrogen a critical enabler for future manufacturing of green metals and other products the world needs.

Why is Fortescue urging immediate action?​

Fortescue boss Twiggy Forrest is eyeing international competition among nations to be the first to successfully, and affordably produce commercial levels of green hydrogen.

“It’s a race to win this race. I recommend that they keep it simple, and they do it immediately,” he said (courtesy of The Australian Financial Review).

Forrest continued:

Remember, I’m an industrialist. I’ve done this before. I see the potential in our country of an industry at least the size of Aramco, a multi-trillion-dollar company that underpins the entire economy of Saudi Arabia and that high standard of living which 34 million people have in their country.
We have the potential of creating an industry at least that size, and having economic growth for decades, full employment for decades. That is the power of this opportunity. The $2 billion gets that ball rolling.

‘Do it immediately’. Why Fortescue boss Twiggy Forrest says the federal budget’s green hydrogen plans can’t wait

Fortescue Metals Group Ltd (ASX: FMG) looks well-placed to make hay from the federal budget’s $2 billion green hydrogen program.

www.fool.com.au

 

[Dona Ferentes]

Seems to be quite happy spending my money

 

[frugal.rock]

I never new Australia was so rich in hydrogen. Oh, the humanity.

 

[qldfrog]

I never new Australia was so rich in hydrogen. Oh, the humanity.

I can not wait:
considering we have the most expensive gas on earth while being second best reserve in the world, I guess even water will be at 15$ a litre here soon

 

[sptrawler]

The real issue hasn't raised its head yet, getting permission to build the massive solar/wind farms that will be required, that isn't going to get easier IMO.
We should know by the end of the year.

 

[qldfrog]

The real issue hasn't raised its head yet, getting permission to build the massive solar/wind farms that will be required, that isn't going to get easier IMO.
We should know by the end of the year.

And the fun bit with the Voice on its way is the blackmailing and extortion coming to keep them running on first nation lands and seas.
It would be cause for legal company law suit for negligence and class action in a decade from now..but what I say....

 

[Value Collector]

The real issue hasn't raised its head yet, getting permission to build the massive solar/wind farms that will be required, that isn't going to get easier IMO.
We should know by the end of the year.

Got to be easier than getting permission to build a mine.

 

[Value Collector]

And the fun bit with the Voice on its way is the blackmailing and extortion coming to keep them running on first nation lands and seas.
It would be cause for legal company law suit for negligence and class action in a decade from now..but what I say....

Having opened 7 mines, a huge rail network, electrical transmission lines, gas pipelines, airports, road systems etc etc I don’t think it’s going to be anything new as far as FMG are concerned, business as usual I think.

 

[Value Collector]

Seems to be quite happy spending my money

Who the government? That’s sorts of government incentives tend to be very good investments, think about it, the get all the money back and more, eg it shortens dole lines which are an expense, and creates income streams from the employees wages, company taxes etc etc.

 

[finicky]

I bet Country Lad reads this post.

Not Held

 

[farmerge]

And the fun bit with the Voice on its way is the blackmailing and extortion coming to keep them running on first nation lands and seas.
It would be cause for legal company law suit for negligence and class action in a decade from now..but what I say....

Just watch the queue and the hands out for the cash. No cheques or credit card payment. Thankyou.
From personal experience.

 

[farmerge]

Got to be easier than getting permission to build a mine.

Not to sure about that.

 

[Value Collector]

Not to sure about that.

You are a land holder aren’t you?

Which do you find most offensive, a company coming and telling you they are going to convert your land into a giant open pit mine, that it will never recover from, or tell you they want to put some wind turbines on your land and pay you an annual fee for each one, while you can continue your farming operation.

I just drove across the corn fields of the USA, and witnessed first hand farmer growing corn with wind farms dotted throughout the corn fields, to them it’s a great new income stream on top of their regular farming operations.

 

[qldfrog]

You are a land holder aren’t you?

Which do you find most offensive, a company coming and telling you they are going to convert your land into a giant open pit mine, that it will never recover from, or tell you they want to put some wind turbines on your land and pay you an annual fee for each one, while you can continue your farming operation.

I just drove across the corn fields of the USA, and witnessed first hand farmer growing corn with wind farms dotted throughout the corn fields, to them it’s a great new income stream on top of their regular farming operations.

Whereas in the USA, as land holders are owners of the ground as well as the surface, the farmer is getting
royalties or able to sell the farm for a fortune, so farmers stop farming and live like a king on a cruise ship...
I agree wind farm are king of compatible without too much hassle with some extensive grazing..but it is a pain with gates, weed propagation, inability to shot pests,...for solar farms,it is a complete no go..
Saw a real world experience near widgee.. Gympie area in Qld... hectares upon hectares of good rainfall and soil destroyed...
I am not anti wind solar mining battery or H2 per se, but like everything,there are limits, good and bad use, fair or not trade off.
Sadly, against a narrative and a politically distorted economy, it is very hard to present an objective and realistic view on these.
I have actually no doubt whatsoever that the industry leaders including FMG are fully aware of various limitations or even pipe dream yet use press conferences and media releases to ensure image boosting and grant catching projects.
You can lose a few million here or there, often offset with taxpayers grants if this ensures a reduced royalty tax or easier extension granted worth billions.
Let's not be naive...

 

[Value Collector]

Whereas in the USA, as land holders are owners of the ground as well as the surface, the farmer is getting
royalties or able to sell the farm for a fortune, so farmers stop farming and live like a king on a cruise ship...
I agree wind farm are king of compatible without too much hassle with some extensive grazing..but it is a pain with gates, weed propagation, inability to shot pests,...for solar farms,it is a complete no go..
Saw a real world experience near widgee.. Gympie area in Qld... hectares upon hectares of good rainfall and soil destroyed...
I am not anti wind solar mining battery or H2 per se, but like everything,there are limits, good and bad use, fair or not trade off.
Sadly, against a narrative and a politically distorted economy, it is very hard to present an objective and realistic view on these.
I have actually no doubt whatsoever that the industry leaders including FMG are fully aware of various limitations or even pipe dream yet use press conferences and media releases to ensure image boosting and grant catching projects.
You can lose a few million here or there, often offset with taxpayers grants if this ensures a reduced royalty tax or easier extension granted worth billions.
Let's not be naive...

Australian land holders get paid handsomely when they allow wind turbines to be erected on their property.

Australia is a big place, should have no shortage of Land/Land holders willing to sign up to accept royalties.

Of course like any market system exactly what type of infrastructure gets put where will be a result of risk vs reward and negotiation between land holders.

Farmers should be pretty smart business people in general, and able to make decisions for whether they want to allow wind or solar on their property, and know what they gain and what they lose.

As for crown and native title land, renewable energy infrastructure can be a great way to monetise an asset that doesn’t produce anything normally, and there is enough land in Australia that groups that don’t want to play don’t have to, the energy companies will just move on and offer the next property owner the annual royalties.

 

[Garpal Gumnut]

Ms. Hick CEO Metals FMG has just been spruicking FMG in an article in the AFR which is behind a paywall.

After years of fruitless drilling, Fortescue is ready to change tactic

New boss Fiona Hick says Fortescue is weighing acquisitions after a frustrating seven-year search for lithium, and growing more confident about its new iron ore mine in Gabon.

www.afr.com

One takeaway was that she plans to move on what she can control.

Reading between the lines this may indicate a greater de facto M + A strategy further afield in FMG, by Mark Hutchison to Dr. Forrest's Gladstone FIFO "brain storm" battery outfit enabling it to slowly grow by acquisitions should it not deliver quickly as a standalone.

On the metals side of FMG Ms. Hick is looking at rather large moves in to Africa and South America, along her "that which she can control" strategy, Fe ore and acquisitions.

A sister article from the same edition suggests that energy companies should "stick to their knitting " and leave start ups to solve the problems of carbon and global warming according to Wood Energy, a consultancy group based in London. Once one of these startups needs capital and looks promising then the larger company may move in rather than waste capital working on carbon.

‘Blockbuster didn’t invent streaming’ – the lesson for big oil and gas

Ground-breaking tech advances to reduce carbon emissions will come from start-ups and venture capital, not oil and gas behemoths, says Wood executive president.

www.afr.com

Perhaps Ms. Hick listens and sticks to what she is good at.

gg

Warning : Viewers are advised that this post is an FMG post. Viewers of an off-topic nature are advised not to read this post as it is on-topic about FMG.

 

[farmerge]

Ms. Hick CEO Metals FMG has just been spruicking FMG in an article in the AFR which is behind a paywall.

After years of fruitless drilling, Fortescue is ready to change tactic

New boss Fiona Hick says Fortescue is weighing acquisitions after a frustrating seven-year search for lithium, and growing more confident about its new iron ore mine in Gabon.

www.afr.com

One takeaway was that she plans to move on what she can control.

Reading between the lines this may indicate a greater de facto M + A strategy further afield in FMG, by Mark Hutchison to Dr. Forrest's Gladstone FIFO "brain storm" battery outfit enabling it to slowly grow by acquisitions should it not deliver quickly as a standalone.

On the metals side of FMG Ms. Hick is looking at rather large moves in to Africa and South America, along her "that which she can control" strategy, Fe ore and acquisitions.

A sister article from the same edition suggests that energy companies should "stick to their knitting " and leave start ups to solve the problems of carbon and global warming according to Wood Energy, a consultancy group based in London. Once one of these startups needs capital and looks promising then the larger company may move in rather than waste capital working on carbon.

‘Blockbuster didn’t invent streaming’ – the lesson for big oil and gas

Ground-breaking tech advances to reduce carbon emissions will come from start-ups and venture capital, not oil and gas behemoths, says Wood executive president.

www.afr.com

Perhaps Ms. Hick listens and sticks to what she is good at.

gg

Warning : Viewers are advised that this post is an FMG post. Viewers of an off-topic nature are advised not to read this post as it is on-topic about FMG.

Well Mr GG yes, umm, err perhaps and so on

 

[qldfrog]

Warning : Viewers are advised that this post is an FMG post. Viewers of an off-topic nature are advised not to read this post as it is on-topic about FMG.

Warming: Viewers are advised that this is an FMG post.
FMG is a world major iron ore producer whose management seems mostly focussed on renewable, lithium, H2 production and aboriginal rights.
Any viewer more interested in the iron ore price drastic fall and bleak future is advised not to follow FMG PR releases

 

[Value Collector]

Warming: Viewers are advised that this is an FMG post.
FMG is a world major iron ore producer whose management seems mostly focussed on renewable, lithium, H2 production and aboriginal rights.
Any viewer more interested in the iron ore price drastic fall and bleak future is advised not to follow FMG PR releases

Drastic fall??? Any year iron ore averaged over $100 is a great year to me.

I remember Iron Ore being $35 and thinking if only it could get back to $70 my life would be wonderful, the fact that it ended up rising to $180 for a month or two before settling back to near $100 is certainly not something to mourn. Especially because that brief windfall high price allowed a dividend payment of more than what I paid for some of my shares.

Commodity prices fluctuate, that’s just what they do, it’s not something to worry about. All that is important is the average price each year being higher than the companies production costs.

FMG diversifying into other businesses is obviously a good thing, especially if you are worried about fluctuations in the iron ore price.

 

[mullokintyre]

Keeping things on Topic, I bought my first ever parcel of FMG yesterday.
I feel that I am now free to post as much as I like about FMG from now on.
Mick