Twiggy's Iron Bridge takes a $1.1b hit

Fortescue axes hundreds of green jobs in UK and Australia Fortescue (ASX: FMG) is dropping plans to manufacture electric motors in-house and moving work offshore to China in a shift that will cost hundreds of workers in the UK and WA their jobs. The UK-based Fortescue Zero division was set to manufacture powertrains for about 400 electric mining trucks for the company’s extensive iron ore operations in the Pilbara region of WA. The company will instead be making the majority of components for the vehicles offshore in China where costs are lower...

Freight operators warn proposed changes threaten industry viability Australia's freight operators have expressed concerns that proposals to curtail diesel rebates or mandate transitions to electric or alternative fuels would trigger significant cost-of-living increases and threaten the viability of thousands of small transport businesses. The warning comes as Climate Change Authority chairman Matt Kean backed calls to overhaul the diesel fuel rebate, suggesting the billions spent annually would be better directed towards electrification. However, exclusive survey data from Loadshift — a subsidiary of Freelancer Limited (ASX: FLN) and Australia’s largest online marketplace for heavy-haulage transport. —...

Fleet Space pioneers multiphysics exploration Fleet Space Australia has launched ExoSphere MT as part of its AI-powered mineral exploration platform ExoSphere. Featuring next-generation magnetotellurics (MT), ambient noise tomography (ANT), active seismic and gravity surveys, the platform enables companies to acquire, process and integrate high-resolution 3D exploration data into AI-powered insights. MT is a passive geophysical method that uses naturally occurring variations in the Earth’s electromagnetic (EM) fields — produced by solar winds and thunderstorms — to measure the electrical resistivity and conductivity of subsurface materials. Uniquely suited to image crustal...