Iron ore price hits 3-week low on firmer supply, softer steel outlook
China unveiled tax incentives on home and land transactions on Wednesday, aiming to support its crisis-hit property market.
Australia’s richest person, Andrew Forrest, called for government and business leaders to commit to stop burning fossil fuels by 2035.
“We have all the technology, it is all there,” Forrest, founder of iron ore giant Fortescue Metals Group Ltd. and a clean energy advocate, said Wednesday at the Bloomberg New Economy Forum in Singapore. “The resource we are short of is character of leaders.”
Getting new industries like green hydrogen started requires assistance from the government, while business leaders must take risks, he said.
Forrest previously said he wants to produce 15 million tons globally of green hydrogen using renewable power by 2030.
In a separate interview with Bloomberg TV on Wednesday, he said Fortescue’s board would meet over the next two weeks to discuss five potential hydrogen or ammonia projects. The company has said it would decide on the projects — from the US to Kenya and Norway — by the end of this year.
(By Jason Scott and Stephen Stapczynski)
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