Fortescue’s Western Australia iron ore mine. Australia the quarry, supplying China with our non-renewable resources to make steel for the CCP war machine at the same time ditching USD as default currency
Australia’s largest iron ore miner Fortescue headed by Twiggy Forrest has walked away from Wall Street, locking in a 14.2 billion Yuan loan from China.
At the same time the Australian Treasury issued its first Yuan bond shifting one quarter of its reserves into Yuan currency.
Washington’s closest ally has bankrolled its future through China, de-dollarising its international settlements for the Yuan no doubt infuriating the US administration.
The syndicated Yuan loan was made at sovereign level fixed term of 3.8 per cent arranged by the Bank of China and Industrial Commercial Bank of China.
According to Reuters this is the first time an Australian corporation financed itself in Chinese currency.
