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FMG - Fortescue Metals

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New, very clever, electric dump truck technology being introduced by FMG.

FMG will be buying in dump truck shells from Liebheer and fitting them out with the propriety electric drive trains they have developed through Williams Advanced Engineering. They will turnover their 120 dump trucks over the next few years as well as selling electric dump trucks to other miners.

Given that the trucks work day in /day out the payback on diesel costs will be swift. Currently the trucks use 200Mllion liters of fuel a year.

Partnership with Liebherr to supply green mining haul trucks incorporating Fortescue’s proprietary-owned zero emission power system​


Jun 15, 2022

Fortescue Metals Group Ltd (Fortescue, ASX: FMG) today announced a partnership with multi-national equipment manufacturer Liebherr for the development and supply of green mining haul trucks for integration with the zero emission power system technologies being developed by Fortescue Future Industries (FFI) and Williams Advanced Engineering (WAE). This is a major step towards transitioning Fortescue’s diesel mining fleet to a green mining fleet before 2030 and accelerates the opportunity to commercialise zero emission power system technologies in heavy industry applications.

The agreement advances the decarbonisation of Fortescue’s mobile fleet through this partnership with one of the world’s leading manufacturers of mining equipment. Utilising WAE’s unique proprietary technology and expertise in high-performance battery systems, the partnership secures a pathway for Fortescue to become a zero emission power system supplier to a tier one original equipment manufacturer and accelerates technology commercialisation.

Under the partnership, Fortescue will purchase a fleet of 120 haul trucks from Liebherr, with delivery aligned to its fleet replacement and sustaining capital expenditure forecast. The commitment represents approximately 45 per cent of the current haul truck fleet at Fortescue’s operations. Truck haulage consumed approximately 200 million litres of diesel in FY21 and accounted for 26 per cent of Fortescue’s Scope 1 emissions.


The phased supply of haul trucks is anticipated to commence following a two year joint development period enabling the development and integration of Fortescue’s proprietary-owned power system into Liebherr’s proprietary-owned base truck. Liebherr will supply mining haul trucks to Fortescue in both battery electric truck and fuel cell electric truck configurations, in accordance with Fortescue’s requirements.
 
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Partnership with CSIRO in developing process to use and transport hydrogen as a fuel.

The CSIRO have developed metal membrane technology (MMT) that enables ammonia to be used as a carrier material for hydrogen storage and transport, making the transportation of low emissions hydrogen economically viable. We see potential for this technology to establish bulk export market opportunities with further research required to determine if MMT can be developed on a commercial scale.

By combining CSIRO’s global leading research and development with Fortescue’s capability to rapidly develop new technologies, we will firmly establish our position in the global hydrogen industry, the low emission fuel of the future

 

Garpal Gumnut

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I have huge respect for Twiggy. Although FMG is dropping more than its peers today.

Good ideas on renewables even BHP are looking at green kit in their mines.

He needs to get some mug to buy FFI and stick to his onions though.

If it doesn't hold at $16.40 it is back down to $14 imo.

FMG.png


gg
 
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I'm guessing there is a significant amount of stop loss selling happening at the moment. Be interesting to see where it stops.

As far as I can see the first 6 months of 2022 will return very good dividends for shareholders. Iron ore prices have averaged at least as well as the last 6 months of 2021. Tonnage is up. The financials will be sound.


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Are dividends expected to remain >10%? I would expecting income to fall given recurrent China lockdown + expenses to rise thanks to price of oil.
Doesn't look great in the short term.
i am thinking NOT , Twiggy is spending some cash on pet projects , but i suspect the margins from the iron will be okay for the next half , and possibly the one after that .

one might also think Twiggy has hedged at least some of the fuel costs ( maybe a whole years worth )

but they are hopefully going to be above 6% this year
 
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I have huge respect for Twiggy. Although FMG is dropping more than its peers today.

Good ideas on renewables even BHP are looking at green kit in their mines.

He needs to get some mug to buy FFI and stick to his onions though.

If it doesn't hold at $16.40 it is back down to $14 imo.

View attachment 143095

gg

Looks like it will get close to your low call. The world has only just learnt that there may be a recession around the corner, no one is going to buy large chunks of anyone's shares. Not until there is some sustained good news.

Lets look at the news so far -

Russia - Ukraine war.​
Food shortages​
Price rises​
Fuel cost​
Retail sales slowing​
Builders going bust​
Interest rates increasing.​
USA on the verge of recession.​
Europe on the verge of recession​
Consumer confidence at its lowest in decades.​

I like FMG, but I', waiting for a lower price.
 
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Anyone taking the "buying opportunity" for FMG ? Could be the bargain of the year at the moment. :cautious:

Currently $17.38.

just holding on to what i have, fairly happy with my portfolio weights so not really looking to add more right now. i did sell covered calls over half my holding last week though, purely to collect premium. the IVs are insane, well above 50, slightly OTM fetched over 5% of the stock price in premium for a 1 month expiry. if it gets back above $20 in a month's time i'll probably look to roll or close out the calls, as i do want to hang on to the stock longer term, but it was too hard to resist gobbling up that premium with these sorts of IVs on offer.
 

Garpal Gumnut

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Just an update on FMG share price.

It has underperformed RIO and BHP over the last 12 months.

On a zero basis from 12 mo. ago

FMG is down : 23.53%
RIO is down. : 17.78%
BHP is down : 3.79%

Many punters are awaiting a lower price before committing to FMG, even the dopey analysts.

FMG.png


gg
 
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Just an update on FMG share price.

It has underperformed RIO and BHP over the last 12 months.

On a zero basis from 12 mo. ago

FMG is down : 23.53%
RIO is down. : 17.78%
BHP is down : 3.79%

Many punters are awaiting a lower price before committing to FMG, even the dopey analysts.

View attachment 143679

gg
i already have a comfortable amount of FMG ( av. SP $17.85 )

i am looking for a $16 ( or even $15 ) handle before reaching for the calculator once again

am in no hurry
 

Country Lad

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FFI strikes partnership with Djibouti to explore potential green hydrogen industry

Fortescue Future Industries says it has struck a partnership with the Government of the Republic of Djibouti to undertake studies into the potential development of a green hydrogen industry.

Djibouti, which is located on the east coast of Africa, is perhaps an intriguing choice for Fortescue with the country’s president, Ismaïl Omar Guelleh, often considered a dictator.

FFI CEO Julie Shuttleworth said Djibouti had the potential to emerge as a leading global supplier of green hydrogen, given its access to quality renewable energy resources and established port infrastructure.
 

UMike

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FFI strikes partnership with Djibouti to explore potential green hydrogen industry

Fortescue Future Industries says it has struck a partnership with the Government of the Republic of Djibouti to undertake studies into the potential development of a green hydrogen industry.

Djibouti, which is located on the east coast of Africa, is perhaps an intriguing choice for Fortescue with the country’s president, Ismaïl Omar Guelleh, often considered a dictator.

FFI CEO Julie Shuttleworth said Djibouti had the potential to emerge as a leading global supplier of green hydrogen, given its access to quality renewable energy resources and established port infrastructure.
What.... And not put their hand out for Squilllions of Govt Subsities?????
 
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FFI strikes partnership with Djibouti to explore potential green hydrogen industry

Fortescue Future Industries says it has struck a partnership with the Government of the Republic of Djibouti to undertake studies into the potential development of a green hydrogen industry.

Djibouti, which is located on the east coast of Africa, is perhaps an intriguing choice for Fortescue with the country’s president, Ismaïl Omar Guelleh, often considered a dictator.

FFI CEO Julie Shuttleworth said Djibouti had the potential to emerge as a leading global supplier of green hydrogen, given its access to quality renewable energy resources and established port infrastructure.
Where on Earth is "Djibouti ? "
XYZ Yacht.GIF
 
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