Fortescue (ASX:FMG) is poised to sell three cattle stations in northern Australia after abandoning plans to develop renewable energy projects on the sites, according to a Monday report by The Australian.
The iron ore miner acquired Emu Creek, Ella Valla, and Yalbalgo stations in 2022 to host wind and solar farms aimed at powering its mining operations, but shelved the plans late last year, according to the report.
The company now plans to develop all its renewable energy infrastructure on existing tenements over the next five years.
However, Fortescue has yet to secure the tenements to develop the projects under Western Australia's Mining Act, per the report.
Fortescue did not immediately respond to a request for comment by MT Newswires.
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