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, or 4.5% of its global workforce, as part of a new restructuring push that will see the Australian iron ore miner scale back its ambitions to turn into a green hydrogen giant.
Billionaire Andrew Forrest, Fortescue’s founder and executive chairman, has been working to transition the business away from iron ore, which stills generates most of the miner’s revenue. annually by 2030 was being put on hold until electricity prices decrease. The measure would also lead to a slowdown in technology development across the board.
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