Business
Investors back Fortescue’s clean energy moonshot – The Australian Financial Review
Having built the world’s fourth biggest iron ore business and eliminated its debts, investors say Fortescue has earned the right to take a punt on clean energy
FFI would notionally receive more than $US827 million ($1.07 billion) in the year to June 30 based on expectations Fortescues iron ore business will generate a record full-year profit of $US8.27 billion.
But chief executive Elizabeth Gaines stressed that FFI projects would only be approved if they were worthy and the subsidiary would receive closer to $US100 million this year.
Mr Gerrard said he viewed the 10 per cent limit as a sign of discipline, rather than a sign of extravagance.
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