Fortescue

Fortescue relies on white hydrogen and invests 21.9 million dollars in HyTerra. $FMG (+1,11 %)

HyTerra increases Nemaha shareholding after EMG gives green light to Fortescue acquisition.

HyTerra increases Nemaha acreage by >15% to over 60,000 acres

Expanded land holdings will support upcoming significant exploration supported by Fortescue following an EGM

Three additional drill sites have been approved and work will commence at the Blythe 13-10 site.

Special Report: With Fortescue's 39.66% acquisition now complete, HyTerra has demonstrated its confidence in the Nemaha Hydrogen Project by acquiring approximately 8,000 new acres of land.

It adds to the 13,000 acres acquired in mid-October 2024 and brings the total leasehold to over 60,000 acres fully owned.

This significantly larger landholding will support HyTerra Limited's (ASX:HYT) upcoming significant exploration campaign, which is backed by a US$21.9 million investment from Andrew Forrest's Fortescue, now sealed after shareholders gave the green light at an extraordinary general meeting on Friday.

The strategic alliance agreement between the two companies is aimed at advancing the wholly owned project while exploring new opportunities globally. Fortescue's funds are already earmarked for an expanded drilling campaign over the Nemaha Ridge.

https://stockhead.com.au/energy/hyterra-bulks-up-nemaha-landholding-after-emg-greenlights-fortescue-acquisition/

Your opinion on $FMG (+1,11 %) ?

Good or bad decision?

Australia is a beautiful country.

The beginning of a new era in mining.

$FMG (+1,11 %)

Dino Otranto, Chief Executive Officer of Fortescue Metals, said: "We have leveraged our strong track record as a pioneer in autonomy and our technological expertise to develop zero emission fleets to enable the industry to move away from pilots and prototypes. The fully integrated AHS will be a game changer for us in reducing our carbon emissions.

We have more than 200 autonomous trucks operating in our mines, making the equivalent of two trips to the moon and back every month. It is essential that they operate efficiently and at maximum capacity," explains Otranto.

The business is historic and full of superlatives. Not only is it the biggest deal in Liebherr's history, Australia is also one of the top producers of iron ore, lithium, gold, zinc, nickel and cobalt. Australia will remain the largest lithium producer in 2023. Unsurprisingly, mining is Australia's largest export industry. Fortescue is the third largest mining company in Australia behind BHP and Rio Tinto.

https://www.electrive.net/2024/09/25/fortescue-und-liebherr-unterzeichnen-vertrag-ueber-28-milliarden-dollar/

This position is also full now.

Results were also ok, less profit growth was expected