Fortescue Cuts Jobs and Sends Manufacturing to China
Fortescue Metals, led by Andrew Forrest, is cutting hundreds of jobs in the UK and Australia as it shifts its focus to research and development (R&D) and sends manufacturing to China.
- The job cuts will affect Fortescue Zero.
- Manufacturing activities being sent to China include motors and power trains for giant electric haul trucks.
The company aims to reach "real zero" by 2030, meaning no gas or diesel will be burned at its Pilbara iron ore operations by that date.
Up to 400 huge 240-tonne electric haul trucks will be needed to transport ore at its mines, with half to be built by China's XCMG.
Author's summary: Fortescue Metals cuts jobs and outsources manufacturing to China.
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