Business
Fortescue to pump billions into clean energy venture – The Australian Financial Review
The iron ore miner surprised investors by declaring that 10 per cent of profits will be dedicated to its ‘future industries’ subsidiary.
But Fortescue chief executive Elizabeth Gaines said Fortescue was investing closer to $US100 million into FFI this financial year, and the allocation would only be spent if projects were worthy.
The intention to allocate up to 10 per cent of net profit after tax is a capital allocation framework … this provides a broad framework but importantly facilitates the progression of these very exciting and important diversification opportunities for Fortescue, she said.
When it comes to the appropriate…
-
Noosa News14 hours agoExperts share tiny home warning as interest from young people soars
-
Noosa News20 hours agoKarenia cristata species source of toxins in SA’s algal bloom, scientists believe
-
Noosa News19 hours agoThe Calile Hotel Named on the World’s 50 Best Hotels List
-
Noosa News13 hours agoExpert’s warning as tourists stunned by hundreds of sharks spotted close to shore at Moreton Island, Queensland