Within a meandering dissertation of thoughts, mining magnate Andrew Forrest warned delegates to an AFR mining summit in Perth on Wednesday morning that Western Australia needs to pick up the mantle on leading Australia’s transition to a green steel charge.
Taking his cue from what’s happening in China, the Fortescue Metals Group chairman also urged the state’s iron ore industry to accelerate the move to producing green iron using renewable energy.
Taking a dig at the United States administration, Forrest reminded delegates that China, like the rest of the world, has not bought into its drill baby drill mantra.
Given that China would “stay the course” and pursue plans to decarbonise the industry, he says the state’s iron ore industry must read the tea leaves if it wants to continue exporting the nation’s vast reserves of Pilbara-based iron ore.
“They are determined, as a people, not to destroy the planet ... and they're looking straight to the future, which may or may not include Western Australia.
“Rio Tinto, BHP, they talk a big game, but everyone is going down.
“The choice is getting made now, and we don’t have any time to lose to have an iron ore industry which is going to deliver what the customer wants, which is green metal … or they will get it somewhere else and design it against another nation.”
Given that the new Labor government has a mandate to lead, Forrest also urged it not to be weak or meek in relation to carbon emissions.
“With the sails hard at your back, I’m saying to the Australian government to lead by saying yes to 75% emission reductions by 2035,” says Forrest.
WA is tipped to export almost $117 billion worth of iron ore this year.
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