Australia-based mining and energy company Fortescue Metals Group has announced around 700 redundancies as part of a comprehensive restructuring of its global operations.

This process is expected to be finalised by the end of the current month.

In addition, the company has named Apple Paget as the group chief financial officer after her 11-month stint on an acting basis.

Paget's association with Fortescue commenced in January 2023.

Shelly Robertson, who has been with the company since October 2023 as its chief corporate officer, has now been appointed as its chief operating officer.

She has been working for 30 years in the oil and gas, mining, and renewable energy sectors.

The company has recently unified its metals and energy units into One Fortescue to streamline operations.

Reflecting on the company's commitment to diversity, the structure of 'One Fortescue' will mirror its board composition, consisting of 50% women.

Additionally, Fortescue has set new performance targets to enhance diversity throughout the organisation and reaffirmed its green commitment.

Fortescue in a statement said: “Fortescue remains resolute in its commitment to be the world’s leading green technology, energy and metals company with a laser focus on achieving Real Zero by 2030.

“The company has undergone a period of rapid growth and transition, and as part of bringing together metals and energy into One Fortescue, initiatives are being implemented to simplify its structure, remove duplication and deliver cost efficiencies.”