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FORTESCUE METALS GROUP LIMITED

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Fortescue Metals : Future Industries partners with Government of the Republic of Djibouti on green hydrogen.

07/04/2022 | 11:03pm EDT
Fortescue Future Industries partners with Government of the Republic of Djibouti on green hydrogen.

Jul 5, 2022

Fortescue Future Industries (FFI) is partnering with the Government of the Republic of Djibouti to conduct studies with a view to developing green hydrogen production.

The Framework Agreement signed by Djibouti and FFI, is a major step towards the country's first ever production of green hydrogen and positions Djibouti as a future leader in renewable energy production.

Djibouti Minister of Energy and Natural Resources Yonis Ali Guedi said "Djibouti does not want to miss this historic moment when green hydrogen becomes the fuel for energy transition"

"This project has the potential for significant socio-economic impact, in terms of job creation."

FFI Chief Executive Officer, Julie Shuttleworth said "This partnership with the Government of the Republic of Djibouti is a great step towards lowering emissions and driving green energy projects forward."

"Djibouti's solar, wind and geothermal sites as well as its access to port, makes it an attractive location for the production of green hydrogen."

"FFI is committed to delivering social, environmental and economic benefits, and we look forward to working with the Government of the Republic of Djibouti in this new venture," Ms Shuttleworth said.

The deal provides FFI access and rights to study the possibilities of renewable energy resources in Djibouti which include solar, wind and geothermal sites, as well as subsurface gas storage areas and industrial areas.

Depending on the outcome of FFI's studies, the parties may then negotiate the terms on an Investment Agreement to develop and construct green hydrogen production facilities on that land.

Disclaimer

Fortescue Metals Group Ltd. published this content on 05 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2022 03:02:09 UTC.


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Net income 2022 6 268 M - -
Net Debt 2022 1 130 M - -
P/E ratio 2022 6,56x
Yield 2022 11,3%
Capitalization 40 928 M 40 928 M -
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EV / Sales 2023 2,63x
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Free-Float 50,9%
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Ian Wells Group Manager-Treasury & Business Planning
John Andrew Henry Forrest Chairman
Fernando Pereira Director-Operations & Pilbara Operations
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