Newly elected Fortescue non-executive director Larry Marshall said the major miner is on track to achieving its decarbonisation goals.
In September 2022, Fortescue announced that it’s aiming to eliminate fossil fuel use and achieve real zero terrestrial Scope 1 and 2 emissions across its iron ore operations by 2030.
As reported by the Australian Financial Review (AFR), Marshall said the iron ore major will achieve this goal in order to become a major supplier of prototype technology and machinery beyond the resources sector.
He said that all the technology needed to achieve this objective was in place, but it needs to be built.
“There’s not much that needs to be invented,” Marshall told AFR.
“What appealed to me about Fortescue is their willingness to do it because you can spend all the time you want on a computer. The only way to know really how to make it work is to have a crack.”
Marshall first joined the Fortescue board in late August. He served as CSIRO’s chief executive officer (CEO) from 2015 to 2023 and was the agency’s longest serving CEO in the past 50 years.
“I am passionate about innovation and the process of turning science into products and value for companies,” Marshall said in August.
“In my 26 years in the US, I evolved from scientist, to inventor, to entrepreneur, to CEO, to Silicon Valley venture capitalist. It is my passion for innovation and my experience in leading cutting-edge companies that makes Fortescue a natural fit.
“Fortescue is at the absolute forefront of technology development in the mining and green energy sectors. I was drawn to Fortescue because I want to help it implement its world-leading decarbonisation plan and eliminate fossil fuels while delivering returns for its shareholders.”
Marshall’s comments come a day after Fortescue announced the opening of a new technical innovation centre in the UK. It has also begun negotiations with the US for a hydrogen hub.