Fortescue Ltd (Fortescue) carries out the exploration, development, production, processing, sale, and transportation of iron ore, and the exploration for other minerals. It also undertakes activities in the global development of green electricity, green hydrogen, and green ammonia projects, along with green technology development and manufacturing.

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Fortescue is investing in R&D to process iron ore into green iron using renewable energy. The company's Green Metal Project in the Pilbara will utilize green hydrogen to produce high purity green iron. A key focus is the advancement of new green hydrogen technologies, which are essential for green iron production and the global energy transition. Fortescue is developing technologies to make green hydrogen commercially viable, aiming to improve performance, reduce costs, and scale up solutions. The company is collaborating with partners to meet its Scope 3 targets of reducing steelmaking emissions intensity by 7.5% by 2030 and achieving net zero by 2040. Fortescue is conducting R&D both in-house and in collaboration with steel mill businesses, global engineering companies, and research institutions. The company is a founding member of the Heavy Industry Low-carbon Transition Cooperative Research Centre (HILT CRC) to de-risk technology pathways for decarbonizing heavy industry. Fortescue is also progressing studies on commercial-scale green metal production in Australia and other international regions. In FY2025, the company spent US$799 million on research, development and exploration, which as a percentage of total revenue stood at 5.1%.