Fortescue and China’s $2B Green Deal: Can the Australian Iron Ore Giant Go Fossil-Free?

Fortescue and China’s $2B Green Deal: Can the Australian Iron Ore Giant Go Fossil-Free?

Fortescue, one of the world’s largest iron ore producers and a leading player in green energy, has secured a $2 billion loan from Chinese banks to accelerate its decarbonization plans. The funding is part of the company’s broader goal to achieve net-zero emissions by 2030 for its Scope 1 and Scope 2 operations. The loan marks one of the largest green financing deals between an Australian mining company and China. It comes when demand for low-car…

Fortescue secures billions in watershed deal - Mining Magazine Australia

Image: T. Schneider/shutterstock.comFortescue has finalised a landmark syndicated term loan facility worth close to $3 billion, with participation from Chinese, Australian and international lenders.  The transaction marks the first Renminbi-denominated (RMB) syndicated term loan undertaken by an Australian corporate, underscoring the strength of Fortescue’s long-standing commercial ties in China.   Renminbi, also known as the Chinese yuan, is th…