Watch Live: Fortescue 2024 Annual General Meeting

01:16:43
https://www.youtube.com/watch?v=4Wq5FdogHYo

Ringkasan

TLDRFord Es SK afholdt deres 2024 års generalforsamling med fokus på virksomhedens vækst og bæredygtighedindsats. Mødet blev indledt med en anerkendelse af områdets oprindelige ejere, før præsentationer fra ledelsen udfoldede virksomhedens engagement i at opnå nul-emissioner inden 2030 gennem grøn teknologi og innovation. Direktørene understregede virksomhedens strategi om at diversificere og grønnere deres operationer. Særligt blev der lagt vægt på deres indflydelse på både samfund og miljø samt den økonomiske performance. Der blev præsenteret projekter som inkluderede elektriske køretøjer og grønne energiløsninger. Diskussioner omfattede også aktiemarkedets respons og fremtidige strategiske mål for grøn energi. Nogle aktionærer udtrykte behovet for mere detaljeret finansiel rapportering omkring energidivisionens tab. Samlet set signalerede mødet en stærk forpligtelse til at lede vej i overgangen til bæredygtighed.

Takeaways

  • 👥 Direktørernes præsentationer fremhævede bæredygtighedsmål.
  • 📈 Stærk økonomisk præstation med stor udbyttebetaling.
  • 🌍 Fokus på at blive en ledende grøn teknologivirksomhed.
  • 🔋 Overgang til elektriske køretøjer og grøn energi.
  • 🌱 Indsatser for at reducere fossile brændstoffer til nul inden 2030.
  • 🔍 Aktionærer efterspurgte mere finansiel gennemsigtighed.
  • 🏗 Nye grønne projekter blev præsenteret, herunder i minedrift.
  • 💡 Værdien af innovationer i grøn teknologi blev understreget.
  • 📊 Forsikringer om fortsat høj økonomisk ydeevne blev givet.
  • 🗣 Diskussion om virksomhedens globale indflydelse og fremtidige mål.

Garis waktu

  • 00:00:00 - 00:05:00

    Mona Gil åbner mødet og byder velkommen til Fortescue's årlige generalforsamling 2024. Hun introducerer mødets dagsorden, inklusive præsentationer fra nøgleledere og formelle mødeprocedurer.

  • 00:05:00 - 00:10:00

    Trevor Stack udfører en traditionsrig 'Welcome to Country' ceremoni, hvor han ære de oprindelige folk og fremhæver vigtigheden af at respektere de traditionelle lande, på hvilke mødet finder sted.

  • 00:10:00 - 00:15:00

    Fortescues ledelse præsenterer deres fokus på bæredygtighed og innovation i det forgangne år, herunder overgang til grøn energi og reduktion af fossile brændstoffer, med målet om at nå reel nul i 2030.

  • 00:15:00 - 00:20:00

    Virksomheden viser en video, der fremhæver deres milepæle, såsom implementeringen af batteridrevne lastbiler, opførelse af solparker, og udvikling af grønne løsninger i minedrift og transport.

  • 00:20:00 - 00:25:00

    Dr. Andrew Forest adresserer de finansielle resultater fra det forgående år, understreger vækstraten, og fortæller om virksomhedens fremskridt mod at opnå bæredygtighedsmålene.

  • 00:25:00 - 00:30:00

    Forest diskuterer udfordringerne ved at få leverandører til at levere grøn teknologi og præsenterer virksomhedens egne teknologiske fremskridt, heriblandt deres nye flådestyringssystem.

  • 00:30:00 - 00:35:00

    Fortescue planlægger at udfase brugen af diesel og gas, og i stedet benytte grønne teknologier kombineret med AI-drevet infrastruktur. De planlægger stor investering i grøn energi.

  • 00:35:00 - 00:40:00

    De beskriver en historisk aftale om udstyrsinvestering og deres planer om at være forgangsvirksomhed i den globale grønne teknologisektor, og fremhæver et stort grønt energinetværk i Pilbara.

  • 00:40:00 - 00:45:00

    Dr. Forest understreger at Fortescue ikke vil bruge kulstofkreditter som genvej til neutralitet, men i stedet opnå virkelig nul gennem innovation og hårdt arbejde med grøn energi.

  • 00:45:00 - 00:50:00

    Virksomhedens mål inkluderer at påvirke global politik og økonomi til at fremme grønne alternativer, og adressere verdensomspændende klimakatastrofer med deres teknologier.

  • 00:50:00 - 00:55:00

    CEO's fortsætter drøftelser om klimaforandringer og virksomhedens engagement i at vælge hårde men nødvendige skridt mod bæredygtighed, samtidigt fremhævende økonomiske gevinster.

  • 00:55:00 - 01:00:00

    Selskabet diskuterer deres præstationsrettighedsplan og søger godkendelse for specifikke bestyrelsesmedlemmers fortsatte deltagelse og kompensation.

  • 01:00:00 - 01:05:00

    Flere bestyrelsesmedlemmer taler, herunder Lord Sebastian Coe og Dr. Jean Baderschneider, som bekræfter deres engagement i innovative og bæredygtige løsninger.

  • 01:05:00 - 01:10:00

    Diskussioner om menneskerettigheder og operationelle risici, herunder forsyningskædeansvar, slaveri og etik omkring ressourceudvinding i internationale konflikter.

  • 01:10:00 - 01:16:43

    Mødet afsluttes med en formel afstemning om de fremlagte resolutioner, og resultatet vil blive offentliggjort senere. Formanden afslutter med en invitation til let forfriskninger.

Tampilkan lebih banyak

Peta Pikiran

Mind Map

Pertanyaan yang Sering Diajukan

  • Hvad var formålet med mødet?

    Formålet var at holde Ford Es SK's årlige generalforsamling for 2024, præsentere virksomhedens resultater og bæredygtighedsinitiativer.

  • Hvem er virksomhedens grundlægger?

    Dr. Andrew Forest er grundlæggeren af Ford Es SK.

  • Hvad er virksomhedens mål inden 2030?

    Målet er at opnå nul-emissioner ved at eliminere brugen af fossile brændstoffer i deres drift.

  • Hvordan vil Ford Es SK opnå nul-emissioner?

    De vil opnå nul-emissioner ved hjælp af grøn teknologi, herunder elektriske køretøjer og grøn energi.

  • Hvilke nye projekter blev nævnt under mødet?

    De nævnte projekter inkluderer opførelsen af grønne energiløsninger og en klimavenlig minedriftsflåde.

  • Hvad blev diskuteret med hensyn til økonomiske præstationer?

    Virksomheden rapporterede stærk økonomisk præstation med høj indtjening og fortsatte udbyttebetalinger til aktionærer.

  • Hvilke temaer blev fremhævet af direktørerne?

    Direktørerne fremhævede bæredygtighed, udledning reduktion og fremtidig innovation.

  • Hvad var reaktionen på rapporterede tab i energidivisionen?

    Der var et spørgsmål om mere klar rapportering af de finansielle tab og investeringer i energidivisionen.

  • Hvem talte om virksomhedens ambitioner inden for bæredygtighed?

    Både virksomhedens ledelse og bestyrelsesmedlemmer talte om ambitionerne om bæredygtighed og grøn innovation.

  • Hvilke spørgsmål blev stillet af aktionærer?

    Aktionærer stillede spørgsmål om det finansielle rapporteringsdetaljer for energidivisionen og virksomhedens etiske overvejelser.

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Teks
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Gulir Otomatis:
  • 00:00:00
    [Music]
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    good morning ladies and gentlemen my
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    name is Mona Gil and I'm for escuse
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    company
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    secretary I would like to acknowledge
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    the traditional custodians of the land
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    on which we're meeting today the wajak
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    people of the NAA nation and I pay my
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    respects to Elders past present and
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    emerging it is my absolute honor to
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    welcome you to Ford es sk's
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    2024 annual general
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    meeting before we start with the formal
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    proceedings I'll would just like to take
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    you through some
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    housekeeping restrooms are located
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    externally and they can be accessed
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    through the doors to my right opta
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    stadium is a smoke free venue including
  • 00:00:55
    the smoking of ecigarettes in the event
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    of an emergency please follow the dire
  • 00:01:00
    of the stadium staff and lifts and
  • 00:01:02
    escalators are not to be used the
  • 00:01:04
    nearest assembly area for our current
  • 00:01:06
    location today is the southern oval
  • 00:01:08
    between the
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    camfield uh just external to to gate
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    D finally may I ask that as a courtesy
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    to all shareholders and guests present
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    could you please turn off your mobile
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    phones or switch them to silent
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    mode the format of today's meeting will
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    include presentations from your
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    executive chairman Dr Andrew Forest AO
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    and the chief executive officers of for
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    escue Mr Mark Hutchinson and Mr Dino
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    atanto presentations will then be
  • 00:01:41
    followed by the formal business of the
  • 00:01:42
    meeting and at conclusion we invite you
  • 00:01:45
    to join us for some light
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    Refreshments I would now like to ask
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    Trevor stack who will perform the
  • 00:01:52
    welcome to Country thank you Trevor
  • 00:02:17
    thank you to moner and thanks again to
  • 00:02:19
    forcu for the invitation for myself to
  • 00:02:21
    come along and and and stand with you
  • 00:02:23
    guys on this um this day in uh you guys
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    moving forward um my name's Trevor St of
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    course awesome the business is ghoul and
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    win It's always important when we stand
  • 00:02:33
    on country where we come together in W
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    country that that we give that blessing
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    it's an old blessing of the land that
  • 00:02:39
    has been here for thousands and
  • 00:02:40
    thousands of years and I'm always
  • 00:02:42
    respectful of companies and
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    organizations that adhere to the old
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    Protocols of the land which is very
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    important and when I stand on this
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    country I speak in my grandmother's and
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    grandfather's
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    tongue wajak buja I welcome grandmothers
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    and grandfathers spirits to come and sit
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    with you here today on this country
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    which is wajak
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    country in the words that I speak there
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    are songs there are dances there are
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    stories that have lived in the land for
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    thousands and thousands of years the
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    song that I always sing comes from
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    katar which you call King's Park and
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    it's about a it's about the spider
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    coming together and the web encompassing
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    you while you sit on country and holds
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    you safely
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    until you go to your
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    family this is R Mel the SPID song
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    [Music]
  • 00:03:58
    [Applause]
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    [Music]
  • 00:04:14
    [Music]
  • 00:04:18
    Mel
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    [Music]
  • 00:04:44
    [Music]
  • 00:04:57
    thank you very much for that and also um
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    once again and like I've said thank you
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    very much to forq for the invitation to
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    come and sit with you guys on Country
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    they I welcome the countries and the and
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    the the songs are a blessing they're a
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    blessing for you when you sit with us on
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    country and pay respect to the country
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    men and women that sit over to ear and
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    and Uncle n that sits there in the end
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    and also pay respect to my brother Mark
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    tazwell ladies and gentlemen all the
  • 00:05:22
    best for the today in your new direction
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    that you're taking and it's a good sign
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    and I thank you very much
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    thank you Trevor for that very warming
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    welcome to
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    Country please now join me in welcoming
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    your directors and chief executive
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    officers on my left Ford escuse founder
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    and executive chairman Dr Andrew Forest
  • 00:05:55
    AO Elizabeth
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    gains Lord Sebastian
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    Co Dr Jean B
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    Schneider n
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    Pearson Usha ra manari and Dino atanto
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    CEO for skew
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    metals on my right Deputy chairman Mark
  • 00:06:17
    baraba Penny Bingham Hall Dr Larry
  • 00:06:22
    Marshall ye Lee and Mark Hutchinson CEO
  • 00:06:27
    forcu
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    energy we're also joined here today by
  • 00:06:31
    our Chief Financial Officer apple
  • 00:06:34
    padet and Chief Operating Officer
  • 00:06:36
    Shelley Robertson together with members
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    of your executive
  • 00:06:41
    team foris skue has had a massive 12
  • 00:06:45
    months we have achieved huge Milestones
  • 00:06:48
    across our business and we will now play
  • 00:06:51
    a short video for you to replay the year
  • 00:06:53
    that has been before you hear from our
  • 00:06:56
    executive chairman Dr Andrew Forest to
  • 00:06:58
    provide his address
  • 00:07:00
    thank
  • 00:07:04
    you foris skue is focused on delivery
  • 00:07:08
    delivering results the Australian Min
  • 00:07:10
    are bucking the trend then delivering
  • 00:07:12
    real proof what do you think of my
  • 00:07:14
    truckmate if you want to see a battery
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    operated H truck come to the pill and
  • 00:07:18
    delivering real solutions on our path to
  • 00:07:21
    real zero one of the largest mining
  • 00:07:23
    companies in the world is going green we
  • 00:07:25
    are stepping Beyond fossil fuels forever
  • 00:07:28
    we have a very aggressive of real zero
  • 00:07:30
    for scope one and two by the end of this
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    decade and we're absolutely on track to
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    achieve that we are changing the company
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    for what it must be to meet all the
  • 00:07:39
    future challenges of our world for 21
  • 00:07:42
    years foris skue has built its success
  • 00:07:44
    by bringing strong returns for
  • 00:07:46
    shareholders taking risks and constantly
  • 00:07:50
    innovating and pushing boundaries we are
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    doing something that no one else in the
  • 00:07:54
    industry is and we have to work a lot
  • 00:07:55
    harder as MERS we have to work harder to
  • 00:07:58
    actually make a margin and when people
  • 00:08:00
    think that 13 they think well how do I
  • 00:08:01
    lower my margins well 1/3 of my cost is
  • 00:08:05
    diesel fuel our Australian operations
  • 00:08:08
    burn a billion lers of diesel every year
  • 00:08:11
    by 2030 we'll burn zero instead using
  • 00:08:15
    the green technologies we're creating to
  • 00:08:17
    eliminate the use of fossil fuels when
  • 00:08:20
    we started this journey the technology
  • 00:08:21
    didn't exist and the equipment companies
  • 00:08:23
    just said we can't do it in your time
  • 00:08:25
    frame so the decision was made we're
  • 00:08:27
    just going to go do it and we already
  • 00:08:29
    are that is the biggest dier in the
  • 00:08:31
    world and the biggest truck in the world
  • 00:08:33
    and guess what mate zero emission it's
  • 00:08:36
    called the t264 battery operated whole
  • 00:08:39
    truck we signed a record multi-billion
  • 00:08:41
    dollar deal with leer to supply hundreds
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    of zero emission machines to foris skew
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    by the end of the decade wonderful
  • 00:08:49
    Machinery like this doesn't only look
  • 00:08:52
    cool it doesn't po electric excavators
  • 00:08:55
    hydrogen powered and Battery electric H
  • 00:08:58
    trucks agreen energy Hub and new solar
  • 00:09:01
    Farms are now on site in the
  • 00:09:04
    pilb Green Solutions delivered by our
  • 00:09:07
    Green Technology business for escq zero
  • 00:09:10
    a global team tasked with inventing
  • 00:09:13
    developing and Manufacturing the things
  • 00:09:16
    we need and others will too Technologies
  • 00:09:19
    available now today we are seeing you in
  • 00:09:22
    Dubai at cop standing in the port in
  • 00:09:25
    front of your green ship we've taken our
  • 00:09:27
    ammonia powered vessel to the world
  • 00:09:30
    stage this is really uh exciting it's a
  • 00:09:33
    strong statement we've got the
  • 00:09:35
    regulatory approval now we need
  • 00:09:36
    acceptance from a world scale from ports
  • 00:09:39
    around the world and here in Australia
  • 00:09:41
    we're now Manufacturing electrolyzers in
  • 00:09:44
    Queensland we've delivered all this
  • 00:09:46
    while continuing to build and grow Ford
  • 00:09:48
    esc's mining operations Ford escue has a
  • 00:09:52
    history proving the nay say is wrong and
  • 00:09:54
    indeed the company's Fortunes in recent
  • 00:09:56
    years have only grown and grown we
  • 00:09:58
    ramped up the Comm in of Ironbridge
  • 00:10:00
    Advanced our Metals portfolio with first
  • 00:10:03
    all from flying fish at Elana and Hall
  • 00:10:06
    Hub at Christmas Creek and we're now
  • 00:10:08
    focused on exploration in Gabon all this
  • 00:10:11
    while maintaining a balance sheet that
  • 00:10:13
    is the Envy of our peers and playing an
  • 00:10:16
    important part in our local communities
  • 00:10:19
    and seeing these businesses start from
  • 00:10:21
    the ground up and be an integral part of
  • 00:10:23
    the supply chain of for skue um has been
  • 00:10:25
    a huge success our billion opportunities
  • 00:10:28
    program has now now awarded more than $5
  • 00:10:31
    billion in contracts to First Nations
  • 00:10:34
    businesses this is a massive Economic
  • 00:10:37
    Opportunity worth taking we've also made
  • 00:10:40
    progress towards the future of our
  • 00:10:42
    business this is the first Green Iron
  • 00:10:44
    and when we sent it to China no
  • 00:10:47
    pollution at all for go group will today
  • 00:10:49
    Begin work on its Green Iron Metal
  • 00:10:52
    project in the pelra Green Iron will be
  • 00:10:54
    produced from foris ores through
  • 00:10:56
    reaction with hydrogen 10%
  • 00:10:59
    of the pollution we pour into the
  • 00:11:01
    atmosphere is humity comes from the
  • 00:11:04
    making of iron to steel we're also
  • 00:11:06
    moving forward with our green hydrogen
  • 00:11:09
    Ambitions breaking ground at our PM 50
  • 00:11:12
    project in gladston and Arizona hydrogen
  • 00:11:15
    project in the US this is the beginning
  • 00:11:18
    it's putting the Green in the green
  • 00:11:19
    circle all corporations should be held
  • 00:11:21
    to there if we can do it as a you know
  • 00:11:23
    mining company why can't you come and
  • 00:11:25
    have a look it's real what forcu is
  • 00:11:27
    delivering is real real people finding
  • 00:11:31
    real solutions to reach real zero Net
  • 00:11:34
    Zero 2050 is failing and failing the
  • 00:11:36
    future of the global youth real zero
  • 00:11:39
    2040 is achievable we have the
  • 00:11:41
    technology we have the capital we have
  • 00:11:44
    the leadership let's play
  • 00:12:02
    that was quite the introduction ladies
  • 00:12:03
    and gentlemen um thank you all for being
  • 00:12:06
    here um look representing you I'm as
  • 00:12:10
    proud as I've ever been um I do think
  • 00:12:14
    that we have a history in this great
  • 00:12:16
    company of ours um which we can be proud
  • 00:12:19
    of and when I spoke to only 12 months
  • 00:12:21
    ago it was in our 20 year 20th year and
  • 00:12:24
    I remarked we're only just getting
  • 00:12:26
    started only just getting started
  • 00:12:28
    directors we've taking giant strides in
  • 00:12:31
    the mission that does unite us all to
  • 00:12:33
    show the world that we foros cuq are
  • 00:12:36
    still the world's most efficient mining
  • 00:12:39
    company with the lowest operating cost
  • 00:12:42
    globally but we're also like all the
  • 00:12:46
    others we're big
  • 00:12:48
    polluters yet we are determined to
  • 00:12:51
    eliminate fossil fuels profitably from
  • 00:12:54
    our mining operations by
  • 00:12:56
    2030 this is why we continue to deliver
  • 00:12:59
    for you shareholders issuing over 42
  • 00:13:02
    billion Aussie dollars in dividend since
  • 00:13:05
    2014 we've ma your company the highest
  • 00:13:08
    sharehold return company in Australia's
  • 00:13:11
    Stock Exchange
  • 00:13:12
    history this year the dividend of nearly
  • 00:13:14
    $2 with some distribution back to you of
  • 00:13:18
    6
  • 00:13:19
    billion kind of I hope rewarding your
  • 00:13:23
    great faith in our company net profit
  • 00:13:25
    after tax was also really strong 8.7
  • 00:13:28
    billion
  • 00:13:29
    that's the third highest earnings in
  • 00:13:32
    foru history despite a bumpy iron oil
  • 00:13:34
    price a free cash flow of 7.8 billion
  • 00:13:38
    was also the second highest in the
  • 00:13:40
    company's history and as of 30th of June
  • 00:13:44
    your company's pream balance sheet has
  • 00:13:46
    7.5 billion in cash on the
  • 00:13:49
    sheet we're Australia's fifth largest
  • 00:13:52
    taxpayer we continue to make an
  • 00:13:54
    extraordinary contribution to the
  • 00:13:56
    Australian economy every year this year
  • 00:14:00
    some
  • 00:14:01
    27.5 billion dollar this year
  • 00:14:05
    alone we have some 21,000 people
  • 00:14:08
    employed because of this Su sustained
  • 00:14:10
    success and I'm confident that the new
  • 00:14:13
    markets were unlocking unlocking right
  • 00:14:17
    now by going green will continue this
  • 00:14:21
    outstanding record long into the future
  • 00:14:23
    we've had an excellent run with iron or
  • 00:14:26
    it's really Rolling Green Iron is next
  • 00:14:30
    big chapter going green across the world
  • 00:14:34
    much bigger opportunities again so we
  • 00:14:38
    won't be Net Zero for whatever that
  • 00:14:41
    means someone can explain it to me by
  • 00:14:43
    2030 we'll be real Zero by
  • 00:14:48
    2030 burning zero zero
  • 00:14:52
    emissions we're releasing ourselves from
  • 00:14:54
    the hostage of fossil
  • 00:14:56
    fuel there will be no shortcut
  • 00:15:00
    we're not taking the easy road to this
  • 00:15:02
    so-call Net Zero by buying offsets or
  • 00:15:05
    using totally disproved waiting for the
  • 00:15:08
    next idiot to come along politician or
  • 00:15:11
    Grant maker of carbon capture and
  • 00:15:14
    storage it
  • 00:15:16
    fails real zero means we will no longer
  • 00:15:19
    use diesel we will no longer use gas
  • 00:15:21
    forq will be entirely powered by Green
  • 00:15:25
    energy and it's an investment that I
  • 00:15:27
    believe is going to Future proof your
  • 00:15:29
    company saving us billions of dollars
  • 00:15:32
    along the way as carbon taxes and
  • 00:15:34
    turbulent fossil fuel prices continue
  • 00:15:36
    their grip around the lifestyles of
  • 00:15:40
    every Australian and every
  • 00:15:43
    human
  • 00:15:45
    it's it's a grip we have to
  • 00:15:49
    release and I know we've got our
  • 00:15:51
    naysayers our doubting Thomas has always
  • 00:15:53
    have had bring them on but our ambition
  • 00:15:56
    to real zero has has attracted harsh
  • 00:16:00
    criticism harsh doubt but I assure you
  • 00:16:04
    shareholders real z230 is no different
  • 00:16:08
    we've been on this path for five years
  • 00:16:11
    now some of the older directors will
  • 00:16:13
    remember we started exploring its
  • 00:16:14
    viability some 11 years
  • 00:16:17
    ago and our fully costed plan now is
  • 00:16:20
    well
  • 00:16:21
    underway have to say we didn't get a lot
  • 00:16:23
    of help along the way the vendors these
  • 00:16:26
    great big companies across America and
  • 00:16:29
    Europe and
  • 00:16:30
    Asia just
  • 00:16:32
    arrogantly when we asked our equipment
  • 00:16:35
    providers where the customer right
  • 00:16:37
    customer is always right apparently not
  • 00:16:40
    when we said we need green equipment so
  • 00:16:43
    we can deliver green for our
  • 00:16:45
    shareholders and for our communities
  • 00:16:47
    they just arrogantly Shrugged their
  • 00:16:48
    shoulders and said well wait till the
  • 00:16:50
    next decade at the
  • 00:16:53
    earliest and this even included our
  • 00:16:55
    Fleet Management System now this is a
  • 00:16:57
    Fleet Management System with some
  • 00:16:59
    history we helped develop this
  • 00:17:01
    system um and it's the last time we got
  • 00:17:03
    caught not
  • 00:17:05
    patenting
  • 00:17:07
    our
  • 00:17:09
    inventions
  • 00:17:11
    that system is owned by someone else and
  • 00:17:14
    we like others hire it it's so large in
  • 00:17:17
    its Fleet Management System of our
  • 00:17:19
    automated trucks if you added the trips
  • 00:17:22
    made each day would go around
  • 00:17:24
    Australia four times each day
  • 00:17:29
    but now with collaboration leer we've
  • 00:17:33
    developed a
  • 00:17:34
    system which I'm delighted to say has
  • 00:17:38
    led us to switch off the old much more
  • 00:17:41
    inefficient system our first crack um
  • 00:17:44
    and switch on the world's best and much
  • 00:17:47
    better system we turned on what we now
  • 00:17:50
    call Forex it's owned by your company
  • 00:17:53
    it's the most efficient Fleet Management
  • 00:17:56
    System in the world and we will of
  • 00:17:58
    course be happy happy to license it to
  • 00:18:00
    others to improve the global world of
  • 00:18:02
    Min mining
  • 00:18:04
    productivity and for Forex will improve
  • 00:18:07
    that productivity across our sites as we
  • 00:18:09
    plug into our entire decarbonization
  • 00:18:12
    ecosystem where we're no longer just a
  • 00:18:15
    mining company we are a massive Energy
  • 00:18:17
    company as well so this ecosystem isn't
  • 00:18:21
    just trucks trains everything else it's
  • 00:18:23
    green Energy Systems which is charge and
  • 00:18:28
    charging ations we're building around 3
  • 00:18:32
    gaw of renewable energy and battery
  • 00:18:34
    storage in the pilra one of the largest
  • 00:18:36
    if not the largest green grids in the
  • 00:18:38
    world and a grid which in many cases is
  • 00:18:41
    larger than some small
  • 00:18:44
    countries we're exchanging over 800
  • 00:18:46
    pieces of normal polluting equipment
  • 00:18:50
    used by everyone else for green Energy
  • 00:18:53
    Zero pollution
  • 00:18:55
    operations we're installing 20 new
  • 00:18:58
    sophisticat software AI powered systems
  • 00:19:01
    to run our green energy infrastructure
  • 00:19:03
    continuously improving by
  • 00:19:06
    AI think the March we're getting on our
  • 00:19:09
    competitors will just get bigger and
  • 00:19:11
    bigger only in September we announced
  • 00:19:13
    the largest single equipment deal in our
  • 00:19:15
    history and we think in mining history
  • 00:19:17
    the single biggest mining equipment and
  • 00:19:20
    batter electric deal in history it's a
  • 00:19:23
    $4.2 billion single hit dollar
  • 00:19:26
    equivalent order for 360 mining trucks
  • 00:19:30
    55 electric excavators 60 Battery P
  • 00:19:32
    dozers all integrated with a
  • 00:19:35
    groundbreaking battery electric P system
  • 00:19:38
    developed inhouse by a technology har
  • 00:19:41
    inhouse from Oxford Britain across North
  • 00:19:45
    America great thinkers great inventors
  • 00:19:48
    all the way to Perth where some of the
  • 00:19:50
    great inventions of green energy will be
  • 00:19:53
    recorded worldwide but right
  • 00:19:56
    here so if anyone ever doubted our
  • 00:19:58
    commitment to real zero don't or whether
  • 00:20:01
    we could pull it off stay the course
  • 00:20:03
    with us this is surely the moment that
  • 00:20:06
    we begin to put those doubts to rest
  • 00:20:09
    we're leading the way ladies and
  • 00:20:10
    gentlemen to to show that
  • 00:20:13
    decarbonization of our entire diesel
  • 00:20:15
    Hall truck Fleet in the pilra within a
  • 00:20:18
    few years and we know we know ladies and
  • 00:20:21
    gentlemen that the tide is turning
  • 00:20:23
    across the mining world and therefore as
  • 00:20:26
    one of the hardest toate Industries in
  • 00:20:28
    the world
  • 00:20:29
    it will start to turn across the
  • 00:20:31
    industrial world and you turn industry
  • 00:20:34
    you turn the
  • 00:20:36
    planet so we know this because within
  • 00:20:39
    hours of unveiling that truck you saw
  • 00:20:42
    the first of these 240 ton green powered
  • 00:20:45
    trucks with our partner leave her there
  • 00:20:48
    was a line a conga line of mining
  • 00:20:49
    Executives from companies all over the
  • 00:20:51
    world now expressing great interest mlan
  • 00:20:54
    engineering one of the largest suppliers
  • 00:20:57
    of underground equip equipment of mining
  • 00:20:59
    equipment globally has joined us in our
  • 00:21:02
    real zero Mission as a result they
  • 00:21:04
    believe as we deliver for us we can
  • 00:21:06
    deliver for them as we will deliver for
  • 00:21:09
    others it was a seminal moment ladies
  • 00:21:12
    and gentlemen it showed how far we've
  • 00:21:15
    come from that small exploration company
  • 00:21:18
    to Global onon or minor Global critical
  • 00:21:22
    minerals Explorer and developer on par
  • 00:21:25
    with any of the
  • 00:21:27
    majors to our new existing Green
  • 00:21:30
    Technology Energy and metals leadership
  • 00:21:33
    our future ladies and gentlemen that I
  • 00:21:35
    believe will unlock enormous new
  • 00:21:38
    markets easily the scale of the iron or
  • 00:21:41
    business and it's that diversification
  • 00:21:44
    ladies and gentlemen which will deliver
  • 00:21:46
    for you our long-term and lawy
  • 00:21:49
    shareholders again and again and
  • 00:21:52
    again so look frankly I am thrilled to
  • 00:21:54
    bring you the details if yet another
  • 00:21:56
    example of this transformation
  • 00:21:58
    as part of that $4.22 billion do Aussie
  • 00:22:02
    Le her deal with forq zero we stand to
  • 00:22:05
    generate some 1.5 billion in Revenue
  • 00:22:09
    just from the supply of battery powered
  • 00:22:11
    systems we're ramping up our production
  • 00:22:14
    in Britain exploring how to do it faster
  • 00:22:17
    in North America Asia because these
  • 00:22:20
    electric powered systems are becoming in
  • 00:22:22
    hot
  • 00:22:23
    demand and of course we are rolling all
  • 00:22:28
    through through the
  • 00:22:29
    pilra so these Power Systems have been
  • 00:22:32
    designed and engineered by our Green
  • 00:22:33
    Technology arm forto keru mostly
  • 00:22:37
    manufactured as I've mentioned in the UK
  • 00:22:39
    but also across the world and this is
  • 00:22:40
    going to provide I believe even greater
  • 00:22:43
    value for you because it'll strengthen
  • 00:22:45
    our reputation as the world's leading
  • 00:22:48
    Green Technology provider certainly to
  • 00:22:50
    the mining industry if not also heavy
  • 00:22:52
    industry across the
  • 00:22:54
    world so as we all come here today we
  • 00:22:58
    know exactly what our mission is and we
  • 00:23:01
    know exactly how to achieve
  • 00:23:03
    it real Zero by 2030 is in our grasp
  • 00:23:08
    ladies and
  • 00:23:09
    gentlemen for years your company
  • 00:23:12
    steadfastly led the way towards a world
  • 00:23:14
    no longer held hostage by fossil fuel we
  • 00:23:18
    call the alarm on dead ends like carbon
  • 00:23:21
    capture and storage and to companies who
  • 00:23:23
    argue planting a few trees means they
  • 00:23:25
    can go build a new coal plant we call
  • 00:23:27
    them out for years those plagued by lack
  • 00:23:30
    of vision yes they're refusing to follow
  • 00:23:34
    in the past and even now but things are
  • 00:23:37
    changing and it has to change I speak to
  • 00:23:40
    now just very quickly but casually as a
  • 00:23:42
    scientist we're over 1.5 degrees ladies
  • 00:23:45
    and gentlemen but we support the UN to
  • 00:23:48
    say 1.5 degrees time is running out the
  • 00:23:50
    evidence is everywhere last Thursday the
  • 00:23:53
    Bureau of meteorology and the
  • 00:23:56
    CSO Australia's own scientific ific
  • 00:23:59
    organization released their biannual
  • 00:24:01
    stateof the climate
  • 00:24:03
    report which said there's more deaths
  • 00:24:06
    caused by excessive heat in Australia
  • 00:24:09
    now than any other natural hazard in our
  • 00:24:10
    history it found Australia is already
  • 00:24:13
    warmed by 1.51 Dees with more extreme
  • 00:24:16
    heat events longer bushire seasons and
  • 00:24:20
    fire Seasons more intense and heavy
  • 00:24:22
    rainfall causing floods rising sea
  • 00:24:25
    levels they say leaves Australia
  • 00:24:27
    uniquely vulnerable
  • 00:24:29
    well your company is doing its bit and
  • 00:24:31
    it's leading the way as heat and
  • 00:24:35
    humidity is ratting up the pressure here
  • 00:24:38
    in Australia and around the world it's
  • 00:24:41
    pushing Humanity closer to the limits of
  • 00:24:43
    survival in many parts of the world as I
  • 00:24:46
    speak the ferocity of storms now forming
  • 00:24:49
    in the superheated waters of Florida to
  • 00:24:52
    Europe to
  • 00:24:53
    Australia it's just evidence and that
  • 00:24:55
    evidence is everywhere recently
  • 00:24:58
    hurricane Milton in Florida caused over
  • 00:25:01
    50 billion US in damage one hurricane 50
  • 00:25:07
    billion such was the speed which had
  • 00:25:10
    intensified it had meteorologists
  • 00:25:13
    rewriting the textbooks on how to
  • 00:25:14
    predict A hurricane's
  • 00:25:16
    intensity it was a hurricane without
  • 00:25:20
    precedent
  • 00:25:22
    starting what we know is the utterly
  • 00:25:24
    predictable
  • 00:25:25
    Trend when the fossil fuel sector calls
  • 00:25:28
    out that this is a one-off sector or
  • 00:25:31
    Mayors and politicians say oh my God
  • 00:25:33
    this is so terrible how could it happen
  • 00:25:34
    can I tell you it's
  • 00:25:37
    predictable and we can still turn this
  • 00:25:39
    around if we work hard together both as
  • 00:25:41
    a business and as Nations at the UN
  • 00:25:44
    General Assembly in September and a
  • 00:25:47
    recent conventing of the Quad in
  • 00:25:49
    Delaware with the United States
  • 00:25:51
    President Australian Prime Ministers and
  • 00:25:53
    Indian prime ministers
  • 00:25:55
    Japanese where our sister company the M
  • 00:25:58
    Foundation announced announced its
  • 00:26:00
    commitment to ending cervical cancer in
  • 00:26:02
    the Endo
  • 00:26:03
    Pacific as the key to the cancer quads
  • 00:26:07
    cancer moonshot I called for business
  • 00:26:10
    and government to drop their net
  • 00:26:14
    2050 facade net isn't
  • 00:26:18
    real it's not because I'm a cent Deni of
  • 00:26:21
    course you can see the evidence in funny
  • 00:26:23
    but the opposite but because I know that
  • 00:26:25
    Net Zero doesn't cut it it doesn't get
  • 00:26:28
    us there we're experiencing the weather
  • 00:26:30
    events we are and the accelerating heat
  • 00:26:33
    because net fails us it's now well known
  • 00:26:36
    amongst the scientific community that
  • 00:26:38
    majority of the plant's boundaries
  • 00:26:40
    natural boundaries have been breached
  • 00:26:43
    and chief amongst these
  • 00:26:45
    threats are of course carbon dioxide
  • 00:26:48
    emissions and they're irreversibly
  • 00:26:51
    destabilizing Earth's systems and
  • 00:26:53
    ecosystems we don't see signs of a bait
  • 00:26:56
    and we have to do it ourselves ladies
  • 00:26:57
    and gentlemen
  • 00:26:59
    back only in the 60s we emitted 11
  • 00:27:02
    billion tons we're now emitting over 36
  • 00:27:04
    billion tons per year up three times the
  • 00:27:07
    trend is
  • 00:27:09
    accelerating and the world must Peak its
  • 00:27:12
    emissions before 2025 and then have them
  • 00:27:15
    by 2030 it's not going to happen happen
  • 00:27:17
    but that's the science that's the math
  • 00:27:20
    you can't argue with a mathematical
  • 00:27:22
    formula it's there to preserve 1.5
  • 00:27:25
    degrees so we know we have no time to to
  • 00:27:28
    wait now we must
  • 00:27:30
    act
  • 00:27:32
    ecosystems the carbon sinks which have
  • 00:27:34
    always protected humanity and organic
  • 00:27:36
    life are beginning to crumble now
  • 00:27:39
    they're not absorbing the carbon dioxide
  • 00:27:42
    they did the assumptions that that
  • 00:27:44
    continue at infin item are wrong and as
  • 00:27:47
    a result they're absorbing less and less
  • 00:27:49
    carbon dioxide so this is all proof that
  • 00:27:52
    net0
  • 00:27:54
    2050 as the United Nations endorsed
  • 00:27:57
    policy is an abject
  • 00:27:58
    failure Net Zero is commercially
  • 00:28:01
    self-serving to those who hold us
  • 00:28:04
    hostage and that is the fossil fuel
  • 00:28:06
    sector net got pushed into that language
  • 00:28:09
    as a word by the fossil fuel sector
  • 00:28:12
    before the Paris
  • 00:28:14
    agreement and the fossil fuel sector are
  • 00:28:16
    using it as a get out of jail freecard
  • 00:28:18
    and as I said to you ladies and
  • 00:28:20
    Gentlemen by 2030 you will have a large
  • 00:28:23
    Energy company which you will own
  • 00:28:25
    powering all of forcu and others
  • 00:28:28
    sure the the fight against us is massive
  • 00:28:33
    puts our mergence through BP and R and
  • 00:28:36
    the others into the iron or industry
  • 00:28:38
    into the shade but this time we're
  • 00:28:42
    strong this time we know what to do this
  • 00:28:45
    time we have the
  • 00:28:48
    weapons they've been devastatingly
  • 00:28:51
    effective for now but they will
  • 00:28:53
    lose this was the exact same delaying
  • 00:28:55
    offis scating and confusing strategy
  • 00:28:59
    which got played out by the tobacco
  • 00:29:01
    industry for 52 years before they had to
  • 00:29:04
    admit with scientific proof that they
  • 00:29:07
    are responsible for
  • 00:29:08
    cancer so let's change this narrative
  • 00:29:11
    ladies and gentlemen from Net Zero to
  • 00:29:13
    what foscue propagates and that's real
  • 00:29:15
    zero real zero for the World by 2040 you
  • 00:29:18
    will do it ladies and Gentlemen by
  • 00:29:20
    2030 so if foros skue a huge meter can
  • 00:29:24
    fully escape the group of the fossil
  • 00:29:27
    fuel sector by 2030 there's no reason
  • 00:29:30
    why the rest of the world can't do it by
  • 00:29:32
    10 years later 2040 we have the
  • 00:29:37
    technology we have the
  • 00:29:39
    capital it's a great
  • 00:29:42
    investment we just need the leadership
  • 00:29:44
    so I ask any heavy industry company any
  • 00:29:47
    chief executive around the world when
  • 00:29:49
    will you stop burning fossil fuel and
  • 00:29:51
    only a few of them will give you a date
  • 00:29:53
    if they say I can't say you're right
  • 00:29:55
    mate why didn't you get off this stage
  • 00:29:58
    and let in someone who can because your
  • 00:30:01
    company can it's the leadership which is
  • 00:30:04
    failing and forq can tell you exactly
  • 00:30:06
    how to do it this year we published a
  • 00:30:09
    gold standard climate transition plan
  • 00:30:11
    that will be updated every year for the
  • 00:30:12
    United Nations every business every
  • 00:30:14
    government must follow us in tackling
  • 00:30:17
    this problem transparently and head on
  • 00:30:20
    and we're not alone ladies and gentlemen
  • 00:30:22
    we're now being joined working together
  • 00:30:25
    peacefully and this means of course all
  • 00:30:28
    also GRE hydrogen GRE hydrogen is
  • 00:30:30
    critical to decarbonizing Industry steel
  • 00:30:33
    shipping Aviation all the hard to obate
  • 00:30:37
    sectors that can't be electrified can
  • 00:30:41
    be released from the grip of the fossil
  • 00:30:43
    fuel sector by Green hydrogen and that's
  • 00:30:46
    why it's C so much criticism that's why
  • 00:30:48
    it's lobbied so hard against because it
  • 00:30:51
    is the death no for the fossil fuel
  • 00:30:54
    sector and of course it's going to be
  • 00:30:56
    critical for us to build a massive new
  • 00:30:58
    Green Iron Metal industry in the pilra
  • 00:31:01
    this I feel is a once in a generation
  • 00:31:03
    opportunity to build perhaps Australia's
  • 00:31:05
    largest ever single industry we ship 3/4
  • 00:31:08
    of a billion tons of iron oil a year for
  • 00:31:12
    3/4 of a trillion dollar we're going to
  • 00:31:14
    double or triple that in revenues if we
  • 00:31:17
    change all that to iron
  • 00:31:20
    forq is wasting no time to seize that
  • 00:31:23
    opportunity to lead the
  • 00:31:26
    way so ladies and gentlemen gentlemen
  • 00:31:28
    fellow
  • 00:31:29
    shareholders we all know Net Zero is far
  • 00:31:32
    far easier you can get it by buying a
  • 00:31:35
    few credits than real zero it's
  • 00:31:38
    Innovation it's change it's just hard
  • 00:31:40
    work but the payback speaks for itself
  • 00:31:42
    seizing these opportunities creates
  • 00:31:44
    tremendous value for the company and
  • 00:31:46
    therefore for you our
  • 00:31:47
    shareholders so I say in closing as we
  • 00:31:49
    look Beyond 2025 I know we are on track
  • 00:31:52
    to change the world for the
  • 00:31:54
    better and on behalf of all of my
  • 00:31:58
    leadership team all of the
  • 00:32:01
    21,000 family members of
  • 00:32:03
    forq I wish to thank you
  • 00:32:06
    shareholders for believing in us we're
  • 00:32:10
    changing the world because of everyone
  • 00:32:13
    at foscue and your determination
  • 00:32:16
    shareholders to stay the course with us
  • 00:32:19
    we are foros skue thank you
  • 00:32:28
    [Applause]
  • 00:32:29
    D
  • 00:32:31
    tranto medal chief executive floor is
  • 00:32:34
    yours
  • 00:32:39
    sir what a hard act to follow thank you
  • 00:32:43
    chairman uh and thank you all for taking
  • 00:32:46
    the time today to join us for our annual
  • 00:32:48
    general meeting I'd also like to thank
  • 00:32:50
    Trevor for that amazing welcome to
  • 00:32:52
    Country uh and as we've mentioned 2024
  • 00:32:56
    was a defining year for for us at foris
  • 00:32:59
    we continue to challenge the status quo
  • 00:33:02
    achieve our stretch targets whilst never
  • 00:33:06
    ever losing sight of keeping our
  • 00:33:08
    teammates safe delivery is key to
  • 00:33:12
    everything we do at forcu and that's
  • 00:33:14
    evident in the progress we've made this
  • 00:33:16
    year we commenced construction of our
  • 00:33:19
    green medals project in the
  • 00:33:20
    pilra we deployed the first of many of
  • 00:33:24
    our zero emissions mining Fleet we
  • 00:33:27
    finished building a 100 megawatt solar
  • 00:33:30
    farm at Northstar Junction the first of
  • 00:33:33
    over 1 gaw we will build before the end
  • 00:33:35
    of the decade we are well into ramping
  • 00:33:38
    up Ironbridge our most Innovative
  • 00:33:41
    project to date and we continued to
  • 00:33:44
    advance our Metals portfolio with first
  • 00:33:47
    or from our flying fish deposits and
  • 00:33:50
    Hall Hub at Christmas Creek in Gabon we
  • 00:33:54
    completed early stage mining with our
  • 00:33:57
    Focus now now on exploration drilling
  • 00:34:00
    studies and our pioneering billing
  • 00:34:03
    opportunities program continued to
  • 00:34:05
    succeed with more than five billion
  • 00:34:08
    Aussie dollars in contracts awarded to
  • 00:34:10
    First Nations businesses since
  • 00:34:14
    2011 we achieved all this while
  • 00:34:17
    maintaining cost discipline and a
  • 00:34:19
    balance sheet that's the Envy of our
  • 00:34:21
    peers of course no year is without its
  • 00:34:25
    challenges but what is important in is
  • 00:34:27
    how we respond and at foris skue we
  • 00:34:30
    tackle challenges head-on none more so
  • 00:34:33
    than the team rallying together at the
  • 00:34:36
    end of last year to face a derailment in
  • 00:34:39
    our
  • 00:34:40
    business it was through our never ever
  • 00:34:44
    ever give up mindset that we achieved
  • 00:34:46
    what many thought was impossible
  • 00:34:48
    shipping
  • 00:34:57
    q1 shipments of
  • 00:35:00
    47.7 million tons our best start
  • 00:35:05
    ever and our business is not just about
  • 00:35:08
    today it's about delivering value for
  • 00:35:11
    you all well into the future and our
  • 00:35:13
    future starts right now in decarbonizing
  • 00:35:17
    our business by rethinking the entire
  • 00:35:20
    Iron and Steel value chain we can
  • 00:35:23
    produce an entirely new product a green
  • 00:35:27
    industry
  • 00:35:28
    here in
  • 00:35:30
    Australia but we can't sit by and watch
  • 00:35:34
    this opportunity pass us we need to lean
  • 00:35:37
    in move quickly and seize it with both
  • 00:35:40
    hands and our track record shows we're
  • 00:35:43
    not afraid to move first for esc's pivot
  • 00:35:47
    to Green Iron oil will be our point of
  • 00:35:49
    difference and our competitive
  • 00:35:52
    advantage and there is an incredible
  • 00:35:54
    opportunity in grein
  • 00:35:55
    medal but if if this new industry is to
  • 00:35:59
    truly succeed in Australia we cannot do
  • 00:36:02
    this alone now it's more important than
  • 00:36:06
    ever for political and Industry
  • 00:36:09
    leadership alike to join at the hip the
  • 00:36:12
    cost of green energy is still a
  • 00:36:14
    significant challenge here in Australia
  • 00:36:17
    and a barrier to getting a green metal
  • 00:36:20
    industry off the ground which will
  • 00:36:23
    revolutionize Australia for the Next
  • 00:36:25
    Generation with the help of the Govern I
  • 00:36:28
    firmly believe we can establish a new
  • 00:36:31
    green metal industry here in the pilra
  • 00:36:34
    that will serve our country and create
  • 00:36:36
    jobs for generations to come forcu has
  • 00:36:40
    never been in better shape and the key
  • 00:36:42
    to this success is the more than
  • 00:36:46
    21,000 people some of those who are here
  • 00:36:48
    today that make up our family and as
  • 00:36:51
    shareholders in foris cuq you can be
  • 00:36:54
    confident we are well positioned into
  • 00:36:56
    the future thank you very much and I'll
  • 00:36:58
    now hand over to
  • 00:37:06
    Hutch thank you Dino um big welcome this
  • 00:37:09
    morning and thank you so much for
  • 00:37:11
    coming we have a very clear Mission
  • 00:37:14
    that's driving us and everything we're
  • 00:37:16
    doing here at foris skew we need to show
  • 00:37:18
    the world we can eliminate fossil fuels
  • 00:37:20
    but do it profitably it's not easy but
  • 00:37:24
    nothing worth doing ever is luckily that
  • 00:37:27
    is where forcu R We R the
  • 00:37:31
    challenge that's what we've been doing
  • 00:37:33
    for 21 years pushing boundaries and
  • 00:37:35
    testing limits providing doubs Wrong by
  • 00:37:38
    delivering very strong
  • 00:37:40
    results just a few years ago people told
  • 00:37:43
    us it wasn't possible to decarbon our
  • 00:37:46
    operations by
  • 00:37:47
    2030 you'll have to wait until 2040 2050
  • 00:37:50
    for the technology and the machines to
  • 00:37:52
    be ready we could have just sat back and
  • 00:37:55
    waited instead we're done us eles we've
  • 00:37:59
    developed the Solutions in house
  • 00:38:01
    bringing together the best engineering
  • 00:38:03
    mins in the world to create our own for
  • 00:38:06
    skew
  • 00:38:07
    Technologies electric excavators
  • 00:38:10
    hydrogen powered and Battery electric
  • 00:38:12
    Hall trucks large fast Chargers and the
  • 00:38:15
    Battery Systems and software needed to
  • 00:38:17
    use it efficiently are now available on
  • 00:38:20
    site in the pill being used
  • 00:38:23
    today these green technologies will
  • 00:38:25
    decarbonize for first but that's just
  • 00:38:28
    the
  • 00:38:29
    start we're now working to sell the same
  • 00:38:32
    Solutions and products to other heavy
  • 00:38:35
    industry players who need also to
  • 00:38:37
    eliminate their
  • 00:38:39
    emissions as our chairman mentioned last
  • 00:38:41
    month we unveiled our autonomous battery
  • 00:38:43
    electric t264 truck to the
  • 00:38:47
    world as you heard it was a significant
  • 00:38:49
    order over4 billion doar contract signed
  • 00:38:52
    with Liber but a big part of that
  • 00:38:54
    actually does flow back to forq Z
  • 00:38:58
    this means that a significant value will
  • 00:39:00
    come back to the company our Battery
  • 00:39:03
    Systems will do do more than just
  • 00:39:05
    decarbonize our mining operations we're
  • 00:39:08
    also going to partner with others around
  • 00:39:10
    the world including in the us where we
  • 00:39:13
    have our manufacturing center they ready
  • 00:39:14
    to
  • 00:39:15
    go our Alysia team also signed a
  • 00:39:19
    multi-billion dollar partnership with
  • 00:39:20
    Jago Landrover to deploy their battery
  • 00:39:23
    intelligence software on the next
  • 00:39:25
    generation of electronic vehicles
  • 00:39:28
    what's clear is there is a huge demand
  • 00:39:30
    and a gap in the market for what we're
  • 00:39:32
    creating and foris skew is being
  • 00:39:34
    recognized for leading this
  • 00:39:37
    way the green Pioneer is a testament to
  • 00:39:41
    that our dual fueled ammonia powered
  • 00:39:43
    vessel was debuted to the world almost a
  • 00:39:45
    year ago and since then it's been named
  • 00:39:47
    a winner at the world hydrogen Awards
  • 00:39:50
    after successfully completing our trials
  • 00:39:52
    and being certified in the port of
  • 00:39:55
    Singapore this is a sign significant
  • 00:39:57
    Milestone and brings the world one step
  • 00:40:00
    closer to Green
  • 00:40:02
    shipping what we're doing is real and we
  • 00:40:05
    continue to drive value for you our
  • 00:40:07
    shareholders let's turn to energy
  • 00:40:10
    projects our goal is to play our part in
  • 00:40:13
    decarbonizing the world by producing
  • 00:40:15
    renewable energy around the world at
  • 00:40:18
    scale this will be in the form of green
  • 00:40:21
    electrons and green
  • 00:40:23
    molecules as we do this we will always
  • 00:40:26
    keep our strong financial discipline at
  • 00:40:28
    the very center of every decision that
  • 00:40:30
    we
  • 00:40:31
    make for SKU is maintaining a portfolio
  • 00:40:34
    projects which show significant
  • 00:40:36
    potential for decarbonization and
  • 00:40:39
    economic growth we have projects in
  • 00:40:41
    Australia USA Norway Brazil Morocco the
  • 00:40:46
    Middle East which are progressing very
  • 00:40:48
    well fors always makes business
  • 00:40:51
    decisions that make sense commercially
  • 00:40:54
    and are the best interests of you our
  • 00:40:55
    shareholders
  • 00:40:57
    what we've achieved as a one forq team
  • 00:41:00
    this year is incredible we're delivering
  • 00:41:03
    on what we said we
  • 00:41:04
    do we will continue to deliver value and
  • 00:41:07
    show the world what real progress is and
  • 00:41:10
    how we can all get to real zero so thank
  • 00:41:13
    you for your time today and I'll hand
  • 00:41:15
    back to Mona
  • 00:41:29
    thanks
  • 00:41:30
    H okay now we'll move to the formal
  • 00:41:32
    business of the meeting um we haven't
  • 00:41:35
    received any new apologies and I can
  • 00:41:38
    advise that a quorum exists and I
  • 00:41:41
    declare the formal business of the
  • 00:41:42
    meeting open the minutes from the last
  • 00:41:45
    AGM have been approved by the board and
  • 00:41:48
    a signed copy is available to be viewed
  • 00:41:50
    by any shareholder should they wish the
  • 00:41:53
    notice of meeting is taken as read to
  • 00:41:56
    streamline the meeting details of the
  • 00:41:59
    resolutions and the proxy votes for each
  • 00:42:02
    resolution will be displayed on the
  • 00:42:04
    screens and I don't intend to read each
  • 00:42:07
    of them out to you shareholders their
  • 00:42:10
    proxies and representatives will also be
  • 00:42:12
    given the opportunity to ask questions
  • 00:42:15
    relevant to the business of today's
  • 00:42:16
    meeting at the time of each resolution
  • 00:42:18
    being considered if you have a question
  • 00:42:22
    please raise your white or blue
  • 00:42:23
    admission cards which you received when
  • 00:42:25
    you registered today and please state
  • 00:42:27
    your name when addressing the meeting if
  • 00:42:30
    you do have a red or green card you're
  • 00:42:32
    not entitled to vote or speak at the
  • 00:42:34
    meeting
  • 00:42:36
    today in accordance with the company's
  • 00:42:38
    Constitution the voting procedure is at
  • 00:42:41
    the discretion of the chair and I can
  • 00:42:43
    advise that we will hold a poll in
  • 00:42:46
    relation to resolutions 1 through
  • 00:42:48
    n Mr Chris Hernandez from the company
  • 00:42:51
    share registry link Market Services has
  • 00:42:54
    been appointed to conduct the poll
  • 00:42:59
    the persons entitled to vote on the poll
  • 00:43:02
    are shareholders representatives and
  • 00:43:04
    attorneys of shareholders and proxy
  • 00:43:07
    holders who hold the white voting cards
  • 00:43:10
    an example will now be shown on the
  • 00:43:14
    screens on this card you will find a
  • 00:43:17
    series of boxes for voting please
  • 00:43:20
    indicate on your card how you wish to
  • 00:43:21
    vote by ticking or marking the
  • 00:43:23
    appropriate square and you must Mark
  • 00:43:25
    either the for or against box for your
  • 00:43:28
    vote to count if there are any aspects
  • 00:43:30
    on the voting procedure on which you are
  • 00:43:33
    uncertain please ask the representatives
  • 00:43:35
    from the link team who will be
  • 00:43:37
    circulating the room with ballot boxes
  • 00:43:39
    after all the resolutions have been
  • 00:43:41
    read the formal business of the meeting
  • 00:43:44
    will close following collection of the
  • 00:43:46
    poll and the results will be announced
  • 00:43:48
    to the ASX later
  • 00:43:51
    today and with that I'll now move to the
  • 00:43:54
    first item on the agenda which is in Rel
  • 00:43:57
    relation to receiving the financial
  • 00:44:00
    reports details of this item are now on
  • 00:44:03
    the
  • 00:44:04
    screens are there any questions in
  • 00:44:08
    relation to the financial reports
  • 00:44:10
    including questions of the company's
  • 00:44:12
    auditor PWC represented here today by Mr
  • 00:44:16
    Chris Dodd Chris could you please
  • 00:44:22
    stand
  • 00:44:23
    no if there are no questions
  • 00:44:33
    question thank you very much thank you
  • 00:44:36
    Mona and congratulations on your new job
  • 00:44:39
    and we appreciate the earlier
  • 00:44:41
    conversations we've had with Penny
  • 00:44:43
    Bingham Hall Mona and Phil mver so Lyn
  • 00:44:47
    Roy from the Australian shareholders
  • 00:44:49
    Association and we have
  • 00:44:52
    248
  • 00:44:53
    proxies today um my question question
  • 00:44:57
    and commentary is regarded to foris skew
  • 00:45:01
    energy we certainly appreciate the
  • 00:45:04
    comments you made hutch in the
  • 00:45:06
    Progressive Way you're leading that
  • 00:45:08
    division on the one hand we have forcu
  • 00:45:11
    Metals being a leader in transition to
  • 00:45:13
    low emissions and in parallel achieving
  • 00:45:17
    enviable financial performance and on
  • 00:45:20
    the other hand we have forcu energy at
  • 00:45:22
    The Cutting Edge of the new green
  • 00:45:25
    technologies but incurring losses of 659
  • 00:45:30
    million and 6117 million Us in the last
  • 00:45:34
    two
  • 00:45:37
    years we accept that research
  • 00:45:40
    development uh going forward in the
  • 00:45:42
    green World cost a lot of money cost a
  • 00:45:45
    lot of time and and and a lot of effort
  • 00:45:48
    that's fully understood as we head
  • 00:45:51
    towards this low emission technology
  • 00:45:53
    situation but shareholders feel that the
  • 00:45:57
    reporting of those losses has been very
  • 00:46:00
    very limited we have the we have the
  • 00:46:03
    gross numbers but we feel as
  • 00:46:05
    shareholders that there should be
  • 00:46:08
    some detailed reporting on the material
  • 00:46:11
    items where that money has gone and has
  • 00:46:14
    been expended and invested in effect we
  • 00:46:18
    feel just giving those totals and then
  • 00:46:21
    consolidating under forc
  • 00:46:23
    one uh shareholders don't have that
  • 00:46:26
    right right to understand where those
  • 00:46:28
    significant monies have gone and and
  • 00:46:31
    accounted for so we would appreciate
  • 00:46:34
    some clarity in that
  • 00:46:43
    regard uh thank you Roy um I don't think
  • 00:46:46
    that'll be an issue we'll we'll happily
  • 00:46:48
    break it down for you
  • 00:46:57
    thanks chairman are there any further
  • 00:47:03
    questions if there are no further
  • 00:47:05
    questions I propose we take the reports
  • 00:47:08
    as
  • 00:47:09
    read the next business item on the
  • 00:47:12
    agenda today is the adoption of the
  • 00:47:14
    remuneration
  • 00:47:16
    report details for this resolution are
  • 00:47:18
    now on the
  • 00:47:20
    screens before we open for questions I
  • 00:47:23
    would just like to make some brief
  • 00:47:24
    comments on behalf of the board in
  • 00:47:26
    relation to the remuneration
  • 00:47:28
    report foris sku's remuneration
  • 00:47:30
    framework is designed to be competitive
  • 00:47:33
    in attracting and retaining the best
  • 00:47:35
    talent whilst rewarding in line with
  • 00:47:37
    share shareholder
  • 00:47:39
    expectations following the first strike
  • 00:47:41
    on the FY 23 remuneration report the
  • 00:47:44
    deputy chair and the chair of the people
  • 00:47:47
    remuneration and nomination committee
  • 00:47:49
    LED extensive engagement with proxy
  • 00:47:52
    advisors and investors to address the
  • 00:47:54
    key areas of concern
  • 00:47:57
    the remuneration report for the FY 24
  • 00:48:00
    Financial year explains how we've
  • 00:48:02
    addressed those concerns with details of
  • 00:48:05
    the key changes outlined in the
  • 00:48:07
    report based on the proxy votes we have
  • 00:48:11
    received we are very pleased with the
  • 00:48:13
    response from our
  • 00:48:15
    shareholders are there any questions on
  • 00:48:17
    this
  • 00:48:24
    resolution if there are no questions
  • 00:48:27
    I will now put the resolution to a vote
  • 00:48:31
    please complete your vote
  • 00:48:37
    now
  • 00:48:39
    okay I now propose the resolution to
  • 00:48:43
    reelect Lord Sebastian CO as a
  • 00:48:47
    director details for this resolution are
  • 00:48:49
    on the
  • 00:48:51
    screens Lord Co was appointed a director
  • 00:48:53
    of the company in 2018 and he is a
  • 00:48:55
    member of the people remuneration and
  • 00:48:57
    nomination committee he is currently a
  • 00:48:59
    non-executive director of the Vitality
  • 00:49:01
    group of life and health insurance
  • 00:49:03
    companies and a chancellor of lfre
  • 00:49:06
    University Lord co-chairs wman and is a
  • 00:49:09
    non-executive director of orn
  • 00:49:11
    entertainment AG he's currently serving
  • 00:49:13
    his second term as president of world
  • 00:49:16
    Athletics I would now like to ask
  • 00:49:18
    Sebastian to make a brief statement
  • 00:49:20
    thanks sir
  • 00:49:28
    Mona thank you very much for your lovely
  • 00:49:32
    introduction I was reminded once by a
  • 00:49:34
    history tutor at my University that you
  • 00:49:37
    only ever reach Perfection on your CV
  • 00:49:39
    but thank you uh very much I'm I'm
  • 00:49:42
    delighted to be here the last time I
  • 00:49:44
    took a public platform uh was before I
  • 00:49:47
    flew here uh from London and it was to
  • 00:49:49
    address a group of Scottish
  • 00:49:51
    conservatives how nice it is to have an
  • 00:49:53
    audience this morning um
  • 00:49:58
    I think it was three years ago uh that I
  • 00:50:01
    last stood and sang for my supper uh and
  • 00:50:04
    my goodness three years has gone very
  • 00:50:06
    quickly uh and what a three years it's
  • 00:50:08
    been uh and as some of you may well be
  • 00:50:11
    aware this is my second stint as a
  • 00:50:14
    director of this great business uh and
  • 00:50:16
    at the risk of sounding like a cliche
  • 00:50:19
    ridden uh jobbing uh football pundit uh
  • 00:50:22
    it really has been for me a game of two
  • 00:50:26
    halves
  • 00:50:27
    uh and the first half I was very
  • 00:50:29
    privileged uh to witness the Genesis and
  • 00:50:32
    the growth uh of this extraordinary
  • 00:50:35
    Metals business driven by uh the
  • 00:50:37
    Visionary doctor uh sitting to my left
  • 00:50:41
    who simply saw things that few others
  • 00:50:45
    did uh and I'm here to tell you that he
  • 00:50:48
    still does and to the challenge of the
  • 00:50:50
    board sometimes uh by the hour uh today
  • 00:50:55
    I'm hoping uh that you will grant me
  • 00:50:58
    another term uh in my second stint uh
  • 00:51:03
    some of you will also know that I'm
  • 00:51:05
    currently pitching for another job in
  • 00:51:07
    sport some have described it as the last
  • 00:51:11
    great race I will re run but what I can
  • 00:51:14
    tell you uh is that the most important
  • 00:51:17
    race I'm running I think I'm joined by
  • 00:51:20
    all of you uh and that is
  • 00:51:24
    the race against the un
  • 00:51:27
    controlled March of climate change uh
  • 00:51:31
    and the ambition is simple uh it is to
  • 00:51:33
    save the planet and I know of no other
  • 00:51:37
    uh more important race uh that is why
  • 00:51:40
    I'm here at Fortis skew and I know of no
  • 00:51:43
    other company your company uh that is
  • 00:51:47
    doing more uh to challenge that I'm
  • 00:51:50
    currently president of world Athletics I
  • 00:51:52
    am responsible for the delivery uh of
  • 00:51:55
    the sport in 2113 countries and let me
  • 00:51:58
    just leave you with a sobering thought
  • 00:52:01
    that by
  • 00:52:03
    2055 uh there will be 15 less countries
  • 00:52:06
    uh in the family of world Athletics and
  • 00:52:09
    that's why I'm standing here hoping that
  • 00:52:13
    you will give me another opportunity uh
  • 00:52:15
    to continue the journey with this
  • 00:52:17
    extraordinary company and extraordinary
  • 00:52:20
    family thank you very much indeed
  • 00:52:31
    thanks Seb are there any questions on
  • 00:52:34
    this
  • 00:52:38
    resolution if there are no questions I
  • 00:52:40
    will now put the resolution to a vote
  • 00:52:43
    please complete your vote
  • 00:52:48
    now I now propose the resolution to
  • 00:52:51
    reelect Dr Jean bad Schneider as a
  • 00:52:54
    director and details are now on the
  • 00:52:57
    screens Jean was appointed a director of
  • 00:52:59
    the company in January of 2015 and she
  • 00:53:02
    chairs the safety and sustainability
  • 00:53:04
    committee and she is also a member of
  • 00:53:06
    the audit finance and risk management
  • 00:53:07
    committee and the people remuneration
  • 00:53:09
    and nomination committee she brings over
  • 00:53:12
    35 years of extensive International
  • 00:53:14
    experience in procurement strategic
  • 00:53:16
    sourcing and Supply Chain
  • 00:53:18
    management Jean is currently a member of
  • 00:53:21
    the United Nations financial sector
  • 00:53:23
    commission and is a member of the
  • 00:53:25
    international advisory committee to the
  • 00:53:28
    2024 un convention on climate
  • 00:53:32
    change Gan is a member of several boards
  • 00:53:34
    and other committees including as a
  • 00:53:36
    Founder board member and chair of the
  • 00:53:39
    global fund to end modern
  • 00:53:42
    slavery I would now like to ask Jean to
  • 00:53:44
    make a brief statement thanks
  • 00:53:48
    Jean good morning
  • 00:53:51
    everyone thank you for being here it's
  • 00:53:53
    good to look around and see some
  • 00:53:54
    familiar faces and especially to see new
  • 00:53:57
    faces but thanks for being here what an
  • 00:53:59
    honor and a privilege it is for me to be
  • 00:54:03
    on the foris skue board and to work for
  • 00:54:05
    all of you this is the most unique
  • 00:54:08
    company I know in the world with
  • 00:54:11
    Visionary leadership look up here and
  • 00:54:13
    look down here bold enough to take on
  • 00:54:15
    the biggest challenges with guts and
  • 00:54:18
    determination always we are rapidly
  • 00:54:21
    becoming as you saw today a global
  • 00:54:23
    integrated Green Technology Energy and
  • 00:54:26
    metals company but never ever forgetting
  • 00:54:29
    Our Roots and iron ore and the pilra but
  • 00:54:32
    positioning all of us for long-term
  • 00:54:35
    value and growth if you own one share of
  • 00:54:39
    fordisc stock or you support the Mission
  • 00:54:42
    Vision and values of foris you are a
  • 00:54:46
    part of the foris family and that is a
  • 00:54:49
    very big deal so what does it mean as
  • 00:54:52
    you see today one you invested in the
  • 00:54:54
    best mining and metals company two you
  • 00:54:57
    invested in an energy company that's
  • 00:54:59
    committed to Leading The Way on decarb
  • 00:55:01
    three you invested in a technology
  • 00:55:03
    company that is leading the way in zero
  • 00:55:06
    emissions technology and four you
  • 00:55:09
    invested in an innovation company that
  • 00:55:11
    turns that technology into value we have
  • 00:55:15
    always been willing to take on the big
  • 00:55:17
    guys and I love that don't you about us
  • 00:55:21
    and we rapidly just leap right over the
  • 00:55:24
    top of them and get get it done better
  • 00:55:27
    so take that fossil fuels we're Scrappy
  • 00:55:30
    and determined and we never ever give up
  • 00:55:33
    saving the planet may seem uh saving the
  • 00:55:37
    planet and eliminating all the
  • 00:55:39
    greenhouse gas emissions may seem bold
  • 00:55:41
    and audacious but that's foris skue and
  • 00:55:44
    that's how we roll after years of
  • 00:55:47
    international experience running
  • 00:55:49
    high-risk operations and my kids once
  • 00:55:51
    counted it up over a 100 countries you
  • 00:55:53
    have my commitment to work as hard as I
  • 00:55:55
    can
  • 00:55:56
    to deliver value to all of you
  • 00:55:59
    shareholders thank you so much for being
  • 00:56:02
    here today I can't wait to share a cup
  • 00:56:04
    of tea and maybe a little sandwich with
  • 00:56:07
    all of you I would be honored to have
  • 00:56:09
    your support take care and take care of
  • 00:56:12
    each other thank you very
  • 00:56:21
    much thanks Jane are there any questions
  • 00:56:24
    on this resolution
  • 00:56:29
    okay if there are no questions I'll now
  • 00:56:31
    put the resolution oh there is a
  • 00:56:36
    question uh wrong guy from the uh
  • 00:56:39
    regional trade Union's uh uh human
  • 00:56:42
    rights shareholder uh group um and uh if
  • 00:56:46
    I can get my phone to work
  • 00:56:48
    properly um uh Jean uh your CV is
  • 00:56:52
    incredibly impressive and uh if I could
  • 00:56:54
    just ask uh what do you you consider the
  • 00:56:56
    most successful thing that you've
  • 00:56:58
    achieved in the last term in regarding
  • 00:57:01
    to deal with modern day slavery and also
  • 00:57:03
    in regard to supply supply chain
  • 00:57:06
    operations and procurements and uh are
  • 00:57:09
    you aware of the recent European court
  • 00:57:11
    of justice legal ruling upon Western
  • 00:57:13
    Sahara as a territory distinct from
  • 00:57:16
    Morocco and with the right of
  • 00:57:19
    self-determination uh this ruled
  • 00:57:21
    considered and rejected the legality of
  • 00:57:24
    Morocco's extraction of resources like
  • 00:57:26
    fish from occupied Western s Sahara it
  • 00:57:29
    also affirmed that psaria the official
  • 00:57:32
    recognized author authorities
  • 00:57:34
    representing Sahari people Western
  • 00:57:36
    Sahari resource watch have been
  • 00:57:38
    recording and monitoring the alleged
  • 00:57:40
    theft for many years and produce a well
  • 00:57:43
    research document on the issue um
  • 00:57:45
    interesting modern modern resource theft
  • 00:57:49
    uh items as passive energy such as wind
  • 00:57:52
    and solar which can be transferred
  • 00:57:54
    across land without the permission of
  • 00:57:56
    the non-self-governing country western
  • 00:57:58
    Sahara while it is seen as a passive and
  • 00:58:01
    renewable the infrastructure associated
  • 00:58:05
    with its production and transmission
  • 00:58:07
    further dispossesses the saharis of
  • 00:58:09
    their land and emboldens the the
  • 00:58:11
    Moroccan State this could be Pro
  • 00:58:13
    problematic for foris skew as it means
  • 00:58:16
    that foris skew is contributing to the
  • 00:58:18
    ongoing brutalization of the indigenous
  • 00:58:20
    people of Western Sahara under the
  • 00:58:22
    occupation of Morocco uh in regard to
  • 00:58:25
    commercial dealing with Western Sahara
  • 00:58:28
    what that that involved natural
  • 00:58:29
    resources from the last colony of Africa
  • 00:58:32
    uh you might be aware of the Amnesty
  • 00:58:33
    International report on Western Sahara
  • 00:58:36
    suana Kaya and the political presence
  • 00:58:39
    that uh International J jurists have
  • 00:58:42
    cast out over the legality of the
  • 00:58:45
    imprisonment has foris here given any
  • 00:58:47
    consideration to the ethics and legal
  • 00:58:50
    risk of operating um in this
  • 00:58:54
    area sorry um in the imprisonment of
  • 00:58:58
    political prisoners who have demanded a
  • 00:59:00
    referendum and the end of Morocco LED
  • 00:59:02
    resource extraction in the
  • 00:59:04
    territory well thank you those are all
  • 00:59:07
    really important questions I think there
  • 00:59:09
    were three in there and um I'll take
  • 00:59:11
    them and be brief but please after the
  • 00:59:15
    session come up and we can talk in more
  • 00:59:17
    detail first of all on supply chain the
  • 00:59:20
    big issue on supply chain is track and
  • 00:59:22
    tracing where your supply chain
  • 00:59:24
    originates and what happens along the
  • 00:59:26
    way right we have worked very diligently
  • 00:59:30
    in the fund to create both digital ways
  • 00:59:33
    and real ways uh to to track those
  • 00:59:36
    Supply chains and we've had a big advant
  • 00:59:38
    we've had big results in developing
  • 00:59:41
    technology but we're not where we need
  • 00:59:43
    to be um and that's an ongoing effort
  • 00:59:46
    and I will tell you from foris sk's
  • 00:59:49
    vantage point we look very carefully at
  • 00:59:52
    our entire supply chain and verify there
  • 00:59:55
    is no slave reinforced labor in it and I
  • 00:59:57
    can talk in more detail about that with
  • 00:59:59
    any of you who' like to talk afterwards
  • 01:00:02
    secondly on the global Fund in modern
  • 01:00:05
    slavery you know it was 10 12 years ago
  • 01:00:09
    I met this young man at Clinton Global
  • 01:00:13
    initiative and we bonded on the fight
  • 01:00:16
    against modern slavery and with Andrew's
  • 01:00:19
    help globally we've identified three
  • 01:00:22
    things that needed to happen there
  • 01:00:23
    needed to be a movement there needed to
  • 01:00:25
    be a fund and there needed to be data
  • 01:00:27
    because we really didn't understand the
  • 01:00:29
    nature of the problem and if you look
  • 01:00:31
    over that time period slavery's actually
  • 01:00:33
    gone up that's because we're identifying
  • 01:00:35
    pockets and places where it exists and
  • 01:00:37
    we're going after it hard in many ways
  • 01:00:40
    but what's frustrating is that we need
  • 01:00:42
    to continue to keep a focus on it and I
  • 01:00:44
    will tell you that both Andrew and I are
  • 01:00:46
    going to talk about the Nexus between
  • 01:00:48
    modern slavery and climate change at the
  • 01:00:50
    upcoming cop meeting because there is a
  • 01:00:52
    Nexus between slavery and the
  • 01:00:55
    degradation of the environment and then
  • 01:00:57
    finally on West Sahara this board is
  • 01:01:00
    very aware of everything you mentioned
  • 01:01:02
    and we're going to take that under an
  • 01:01:04
    advisement currently we do not operate
  • 01:01:06
    there but we will clearly listen
  • 01:01:08
    carefully to everything you've said we
  • 01:01:10
    talked about it yesterday and and um as
  • 01:01:13
    time wears on you will see what we're
  • 01:01:15
    going to do
  • 01:01:17
    there all right but see me afterwards
  • 01:01:27
    are there any further
  • 01:01:32
    questions if there are no further
  • 01:01:34
    questions I will now put the resolution
  • 01:01:36
    to a vote please complete your vote
  • 01:01:40
    now I now propose the resolution to
  • 01:01:43
    elect Usha ramari as a director details
  • 01:01:47
    are now being shown on the screens Usha
  • 01:01:50
    was appointed a non-executive director
  • 01:01:51
    of the company in January of this year
  • 01:01:53
    and she is a member of the audit Finance
  • 01:01:56
    and risk management committee and the
  • 01:01:58
    safety and sustainability committee she
  • 01:02:00
    brings over 30 years of senior
  • 01:02:02
    infrastructure investment experience
  • 01:02:04
    leading investment platforms and
  • 01:02:06
    management
  • 01:02:07
    organizations she has previously held
  • 01:02:09
    senior positions on the World Bank group
  • 01:02:11
    and the Blackstone Group and her last
  • 01:02:15
    position was under the Secretary General
  • 01:02:17
    at the United Nations she holds a number
  • 01:02:20
    of board and committee positions
  • 01:02:23
    including as chair of the voluntary
  • 01:02:24
    carbon markets in Integrity initiative
  • 01:02:27
    and is a member of the environmental
  • 01:02:28
    steering committee of neom Saudi Arabia
  • 01:02:32
    I would now like to ask Usha to make a
  • 01:02:34
    brief
  • 01:02:44
    statement good morning ladies and
  • 01:02:47
    gentlemen dear
  • 01:02:49
    shareholders I'm honored to be here with
  • 01:02:52
    you this morning to seek your approval
  • 01:02:55
    for my election
  • 01:02:56
    to this wonderful phc
  • 01:02:59
    board just to give a bit of a background
  • 01:03:01
    in what's on my mind today we are at a
  • 01:03:05
    point in time as people in planet where
  • 01:03:07
    six out of nine planetary boundaries
  • 01:03:09
    have been breached and we're facing
  • 01:03:12
    unprecedented stress on climate on water
  • 01:03:16
    and on nature everything that's
  • 01:03:18
    important to
  • 01:03:19
    us and in this Bleak
  • 01:03:22
    scenario I'm very happy to say is this
  • 01:03:25
    wonderful company Fortis QQ a remarkable
  • 01:03:28
    company with a Visionary
  • 01:03:31
    chairman that's putting human and
  • 01:03:33
    financial resources and passion and
  • 01:03:36
    commitment behind
  • 01:03:39
    decarbonization and real zero
  • 01:03:42
    Pathways the company operates from a set
  • 01:03:46
    of core values that guide how we work
  • 01:03:49
    how we engage how we
  • 01:03:53
    collaborate today Fortis cu as others
  • 01:03:56
    have said is a leading Technology Energy
  • 01:03:58
    and metals company that is blazing a
  • 01:04:01
    trail for corporate climate action
  • 01:04:05
    globally and in doing this 4q is
  • 01:04:08
    ensuring continuing High Financial
  • 01:04:11
    returns for you our shareholders while
  • 01:04:14
    achieving substantial positive impact
  • 01:04:18
    for communities and Indigenous peoples
  • 01:04:20
    everywhere they
  • 01:04:22
    work I bring to the board expertise and
  • 01:04:26
    experience in finance
  • 01:04:28
    infrastructure
  • 01:04:30
    sustainability and through my last job
  • 01:04:33
    geopolitics in in terms of all the
  • 01:04:35
    various positions I've held over my
  • 01:04:37
    career it is truly a privilege for me to
  • 01:04:40
    be part of this board I'm energized by
  • 01:04:44
    the challenges ahead of us and committed
  • 01:04:46
    to working alongside my esteemed board
  • 01:04:49
    members and colleagues and our fortue
  • 01:04:52
    team to help reach our goals I thank you
  • 01:04:56
    for your support and
  • 01:05:06
    Trust thanks oosha are there any
  • 01:05:09
    questions on this
  • 01:05:14
    resolution if there are no questions I
  • 01:05:18
    will now put the resolution to a vote
  • 01:05:19
    please complete your vote
  • 01:05:24
    now I now proposed the resolution to
  • 01:05:27
    elect n Pearson as a director and
  • 01:05:29
    details are on the
  • 01:05:31
    screens n was recently appointed a
  • 01:05:33
    non-executive director of the company in
  • 01:05:35
    August of this year a prominent
  • 01:05:38
    Australian indigenous leader social
  • 01:05:40
    Advocate and lawyer n has pursued
  • 01:05:43
    various initiatives to achieve
  • 01:05:44
    socioeconomic development outcomes for
  • 01:05:47
    indigenous
  • 01:05:48
    Australians he has co-founded the cape
  • 01:05:51
    York land Council and is the founder of
  • 01:05:54
    the cape York partnersh parip and the
  • 01:05:56
    good to Great Schools Australia program
  • 01:05:59
    which aims to lift education outcomes
  • 01:06:01
    for all Australian
  • 01:06:03
    students I would now like to ask nol to
  • 01:06:06
    make a brief
  • 01:06:16
    statement good
  • 01:06:18
    morning let me acknowledge the
  • 01:06:20
    traditional owners I bring greetings
  • 01:06:23
    from Cape York peninsula
  • 01:06:26
    you don't need my telling that forcu
  • 01:06:30
    knows how to create
  • 01:06:32
    Prosperity its pronatural
  • 01:06:35
    performance over 20 years is patent
  • 01:06:41
    proof I join a company whose founder and
  • 01:06:44
    chairman Dr Forest holds a deep passion
  • 01:06:49
    that we must decarbonize now and move
  • 01:06:53
    Beyond fossil fuels before or it is too
  • 01:06:57
    late for tcue is leading the world's
  • 01:07:00
    transition to Green energy and a zero
  • 01:07:03
    emissions
  • 01:07:05
    future I am on a steep
  • 01:07:10
    curve as to what that means and what it
  • 01:07:15
    entails the leadership and
  • 01:07:19
    Ingenuity required to realize the
  • 01:07:23
    business model and the the moral Vision
  • 01:07:27
    that this company has for itself and its
  • 01:07:30
    role in the world is for me Vivid in a
  • 01:07:35
    way not possible to
  • 01:07:39
    understand from the
  • 01:07:43
    outside for tesu is creating Prosperity
  • 01:07:47
    today while working
  • 01:07:49
    relentlessly to fulfill our
  • 01:07:52
    responsibilities to our future
  • 01:07:57
    unborn my life's work is dedicated to
  • 01:08:00
    the empowerment of Australia's
  • 01:08:05
    disadvantaged I've learned much and have
  • 01:08:08
    much to contribute to
  • 01:08:12
    fortescu fortescue's founder professes
  • 01:08:15
    two truths with the burning magnesium
  • 01:08:19
    flame of entrepreneurial
  • 01:08:23
    conviction that it is not only only
  • 01:08:25
    possible but
  • 01:08:28
    imperative for an Enterprise committed
  • 01:08:31
    to economic growth and prosperity to
  • 01:08:35
    overcome
  • 01:08:37
    disparity for the
  • 01:08:40
    disparate for the betterment of
  • 01:08:43
    Australia and for the planet to
  • 01:08:47
    reverse a calamitous future if we don't
  • 01:08:51
    move to real zero
  • 01:08:55
    I share these
  • 01:08:58
    convictions I commit my very best to
  • 01:09:02
    contributing for to Fortescue securing
  • 01:09:07
    success for you our
  • 01:09:10
    shareholders for
  • 01:09:12
    Australia and to show the way to the
  • 01:09:15
    rest of the
  • 01:09:16
    world thank you for your support
  • 01:09:29
    thank you n are there any questions on
  • 01:09:32
    this
  • 01:09:36
    resolution if there are no questions
  • 01:09:39
    I'll now put the resolution to a vote
  • 01:09:41
    please complete your vote
  • 01:09:45
    now the next item on the agenda is the
  • 01:09:49
    approval of for exuse performance rights
  • 01:09:52
    plan details are now being shown on the
  • 01:09:54
    screens
  • 01:09:56
    the plan was last approved at Ford
  • 01:09:58
    escuse AGM in its 2021 annual general
  • 01:10:02
    meeting and approval is required this
  • 01:10:04
    year to ensure that any Securities that
  • 01:10:06
    are granted under the plan are not
  • 01:10:08
    counted towards the company's annual 15%
  • 01:10:11
    placement
  • 01:10:12
    capacity are there any questions on this
  • 01:10:20
    resolution if there are no questions
  • 01:10:23
    I'll put the resolution to a vote
  • 01:10:26
    please complete your votee
  • 01:10:31
    now I now propose the resolution to
  • 01:10:35
    approve participation in the performance
  • 01:10:37
    rights plan by Mr Dino atanto CEO
  • 01:10:41
    Metals details are now being shown on
  • 01:10:44
    the screens and before we open for
  • 01:10:46
    questions I would just like to make some
  • 01:10:48
    brief comments on behalf of the board in
  • 01:10:50
    relation to both this resolution and the
  • 01:10:52
    next resolution being Mr atanto and Mr
  • 01:10:55
    Hutchinson's participation in the
  • 01:10:58
    performance rights
  • 01:10:59
    plan whilst legally there is no
  • 01:11:02
    requirement for shareholder approval on
  • 01:11:04
    the grant of performance rights to
  • 01:11:06
    either Mr atran or Mr Hutchinson in
  • 01:11:09
    their capacity as CEOs of for escue in
  • 01:11:12
    accordance with good corporate
  • 01:11:13
    governance shareholder approval is being
  • 01:11:16
    sought details of the maximum number of
  • 01:11:19
    rights that may be granted to the CEOs
  • 01:11:22
    During the period and the relevant
  • 01:11:24
    vesting condition are contained in the
  • 01:11:26
    notice of
  • 01:11:28
    meeting are there any questions on this
  • 01:11:36
    resolution if there are no questions I
  • 01:11:39
    will put the resolution to a vote please
  • 01:11:42
    complete your vote
  • 01:11:47
    now I now propose the resolution to
  • 01:11:50
    approve participation in the performance
  • 01:11:53
    rights plan by Mr Mar Mark
  • 01:11:56
    Hutchinson details are now on the
  • 01:12:00
    screens are there any questions on this
  • 01:12:07
    resolution if there are no
  • 01:12:10
    questions I'll put the resolution to a
  • 01:12:14
    vote please complete your vote
  • 01:12:22
    now okay we'll now move on to the final
  • 01:12:25
    resolution on the agenda today which is
  • 01:12:27
    a conditional
  • 01:12:28
    resolution and the validity of this
  • 01:12:31
    resolution is conditional on at least
  • 01:12:33
    25% of the votes cast in resolution one
  • 01:12:36
    being cast against the remuneration
  • 01:12:38
    report for the year end of
  • 01:12:40
    2024 and I'm pleased to advise that
  • 01:12:43
    based on the the proxy results
  • 01:12:46
    resolution of on resolution one
  • 01:12:49
    resolution 9 will be voided however for
  • 01:12:51
    completeness of the poll we will now put
  • 01:12:54
    the resolution to a
  • 01:12:56
    vote could you please complete your vote
  • 01:13:05
    now I will now proceed to the closing
  • 01:13:10
    poll kindly Lodge your voting cards in
  • 01:13:13
    the ballot boxes circulating the
  • 01:13:24
    room
  • 01:13:54
    for
  • 01:14:24
    e for
  • 01:15:07
    okay I take it that all persons
  • 01:15:09
    intending to vote have now done sir
  • 01:15:34
    I now declare the poll closed subject to
  • 01:15:39
    finalization final results of the
  • 01:15:41
    resolutions will be announced on the
  • 01:15:43
    asex L later
  • 01:15:44
    today ladies and gentlemen this now
  • 01:15:47
    concludes the formal business of today's
  • 01:15:49
    meeting as you've heard from our
  • 01:15:51
    chairman and our CEOs it's been another
  • 01:15:54
    incredible year for foros skue we would
  • 01:15:57
    be delighted if you could now join us
  • 01:15:59
    for some light Refreshments just outside
  • 01:16:01
    the room thank you
  • 01:16:07
    [Music]
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