Statement from Fortescue Executive Chairman and Founder, Dr Andrew Forrest AO

I’ve always believed in our country and our people’s ability to achieve what others say is impossible. That’s why I’ve never understood why some among us argue that it’s in Australia’s interests to rely on other nations for our most precious commodity: energy.

This relationship means our country is controlled by others. It effectively makes us a subservient nation, a vassal state, whenever our energy supply is cut or challenged. 

“Made in Australia” are three of the most beautiful words I know. What is stopping Australia from applying “Made in Australia” to energy, as we watch economies weaken due to lack of it, and witness nations weaponising it?

When Fortescue made the decision in 2022 to invest US$6.2 billion in eliminating the risk posed by fossil fuels to our business, we set our own “impossible” target: to decarbonise our Australian mining operations by 2030. No offsets, no carbon capture and storage.

Real Zero, not Net Zero.

The critics said it would cost too much, that the technology would not exist for another 10 years, that Fortescue would no longer be the standout performer in efficiency that it’s always been.

As the world enters an entrenched gas and diesel supply crunch, Fortescue is stepping beyond these problems. With years to spare, the massive technology development needed is largely behind us and construction is in full swing – we can see the end in sight.

Fortescue is already reaping the economic benefits – reinforcing why Fortescue will remain the lowest cost, most efficient miner in the world.

Last month, as gas supply tightened across the Pilbara, Fortescue was forced to secure emergency fuel supplies at up to double the usual price. Thankfully, our solar farms are up and running and delivered a massive 1.2GWh over four days, slicing exposure to these costs and keeping our operations running hard.

Companies and entire countries can free themselves from this current war over energy, and the next one. We can give people low-cost, unpolluting energy. We do it through Made in Australia green energy and the courage and innovation that Australia is famous for globally.

Like so many defining challenges, the answer lies in our people’s gritty, determined character and seriously courageous innovation. There is no answer in desperately clinging to the supply chains of the past.

As part of its Real Zero commitment, Fortescue is building the world’s first off-grid heavy industry green grid. Integrating up to 2GW of utility-scale solar and wind generation with 4-5GWh of battery storage, transmission lines and AI-driven management systems, it is designed to operate remotely at the scale of cities.

This is a practical, replicable and firmed energy solution designed to eliminate emissions at scale, reduce volatility and deliver green, reliable power – cheaper and much faster than fossil fuel.

We are doing it for ourselves and now also moving to multiply that advantage for others – replicating and commercialising it globally, wherever we are invited.