Fortescue prepares to meet the strong demand for green Iron in China

Fortescue, which is about to start production of green iron using renewable energy in the next year, said that Australia was well positioned to meet China's strong demand for this product.

Christmas Creek, the fourth largest iron ore mine in the world, will produce high-purity green iron using solar power at its Christmas Creek operation in Western Australia.

Mark Hutchinson (head of the green energy division) told analysts on a call that the company will begin production in 2025, and allocate A$50million for the project, as the demand from China is expected to increase.

Hutchinson stated, "It's quite apparent in China...that their insatiable desire for green products...and this is why we put so much effort in our green iron factories in Christmas Creek."

He added, "Within a year, we'll show the world it's possible to produce green iron metal ...( from) Pilbara iron ore using hydrogen as a reducer derived by the sun, and in the future the wind." Reporting by Melanie Burton, Editing by Muralikumar Anantharaman & Jacqueline Wong

(source: Reuters)