Australia's Fortescue teams up with India's JSW Energy for hydrogen projects

(Reuters) – Australia's Fortescue Metals Group said on Thursday its unit has teamed up with a subsidiary of Indian power producer JSW Energy for projects including production of hydrogen and its use in making steel in India.

Fortescue Future Industries (FFI) has signed the agreement with JSW Future Energy for collaborating on hydrogen mobility, green ammonia and their industrial applications in India.

FFI has been criss-crossing the globe signing framework agreements for renewable energy projects but has come under fire from analysts for providing little detail on how its projects would be funded.

FFI's fiscal 2022 expenditure is expected to be between $400 million and $600 million, Fortescue said in its fourth-quarter production report on Thursday.

Key areas of activity for FFI include green fleet development and decarbonisation technologies, as well as scoping studies and asset identification across Australia, Asia, Africa, Latin America, Europe and North America.

(Reporting by Arundhati Dutta in Bengaluru; editing by Vinay Dwivedi)

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.

MOST ACTIVE MINING STOCKS

 Daily Gainers

 Lincoln Minerals Limited LML.AX +125.00%
 Golden Cross Resources Ltd. GCR.AX +33.33%
 Casa Minerals Inc. CASA.V +30.00%
 Astro Resources NL ARO.AX +25.00%
 Athena Resources Ltd. AHN.AX +22.22%
 Adavale Resources Limited ADD.AX +22.22%
 Azimut Exploration Inc. AZM.V +21.98%
 New Stratus Energy Inc. NSE.V +21.05%
 Dynasty Gold Corp. DYG.V +18.42%
 Azincourt Energy Corp. AAZ.V +18.18%