Australia's 'green' iron debate grows as China targets steel emissions
SYDNEY -- Debate is heating up in Australia over how the world's largest supplier of iron ore and metallurgical coal should respond to a growing push for more environmentally friendly metals, especially in China, the country's biggest customer.
Last week, Andrew Forrest, boss of the country's third-largest iron ore miner Fortescue, warned rivals that the Pilbara region -- the heartland of the country's iron industry -- risked becoming a "wasteland" if the sector did not adapt to China's move to close down blast furnaces and adopt cleaner steelmaking alternatives using Brazilian or African ores.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
4 days ago
- Nikkei Asia
Australia's 'green' iron debate grows as China targets steel emissions
SYDNEY -- Debate is heating up in Australia over how the world's largest supplier of iron ore and metallurgical coal should respond to a growing push for more environmentally friendly metals, especially in China, the country's biggest customer. Last week, Andrew Forrest, boss of the country's third-largest iron ore miner Fortescue, warned rivals that the Pilbara region -- the heartland of the country's iron industry -- risked becoming a "wasteland" if the sector did not adapt to China's move to close down blast furnaces and adopt cleaner steelmaking alternatives using Brazilian or African ores.
5 days ago
JICA Signs Deal to Invest in Brazilian Farm Fintech Firm
News from Japan Economy May 29, 2025 14:17 (JST) Sao Paulo, May 28 (Jiji Press)--The Japan International Cooperation Agency has decided to invest in Brazilian fintech company Agrolend, which offers financing to small- and medium-sized farmers in the country within as quickly as two days of application. The Japanese government-backed agency held a signing ceremony Wednesday in Sao Paulo, the biggest city in Brazil. It hopes the investment will help ensure stable food procurement by Japan, which imports such crops as soybeans and corns from the South American agricultural giant. Fund procurement has been a bottleneck for small- and medium-sized Brazilian farmers, who account for over 70 pct of all farmers in the country. By utilizing information technology, Agrolend successfully shortened the period needed for screening loan applications. The company has allowed farmers in need of funds to purchase seeds and fertilizers to apply for financing via the WhatsApp communication app and receive loans quickly. Established in December 2020, Agrolend provides financing services to some 2,700 farmers in Brazil. In the latest fund raising deal aimed at expanding its businesses, the company procured 56 million dollars from JICA and others. [Copyright The Jiji Press, Ltd.] Jiji Press
Nikkei Asia
6 days ago
- Nikkei Asia
Brazil sues China's BYD over allegations of slave-like labor conditions
SAO PAULO (AP) -- Brazilian prosecutors said Tuesday they are suing Chinese electric vehicle giant BYD and two of its contractors over allegations of using workers in slave-like labor conditions and engaging in international human trafficking. The labor prosecutors' office in Bahia state said in a statement that they are seeking 257 million Brazilian reais ($50 million) in damages from BYD, China JinJiang Construction Brazil and Tecmonta Equipamentos Inteligentes.
