STORY: China's development of new quality productive forces helps decarbonization in mining industry: Australian CEO
SHOOTING TIME: April 24, 2024
DATELINE: April 27, 2024
LENGTH: 00:02:27
LOCATION: PERTH, Australia
CATEGORY: ECONOMY

SHOTLIST:
1. various of the mining site of Fortescue Metals Group Ltd.
2. SOUNDBITE 1 (English): DINO OTRANTO, CEO of Fortescue Metals Group Ltd.
3. various of development of new energy industry in China
3. SOUNDBITE 2 (English): DINO OTRANTO, CEO of Fortescue Metals Group Ltd.

STORYLINE:

China's development of new quality productive forces helps clean energy transformation in the mining industry globally, according to Dino Otranto, CEO of Australia's iron ore giant Fortescue Metals Group Ltd.

SOUNDBITE 1 (English): DINO OTRANTO, CEO of Fortescue Metals Group Ltd.
"Yes, the high (new) quality productive force thematic that we're seeing from China. We're very encouraged by this because we believe the new quality manufacturing processes will enable the world to help its clean energy transformation through the delivery of solar panels and wind turbines, and all the equipment that is required to help industries like ours at Fortescue, decarbonize our businesses.
We have a very aggressive decarbonization, clean energy transformation agenda. And we're looking to partner. In fact, we already have partnered with many Chinese companies in the supply of clean energy equipment to help companies like us transform. It was also very pleasing to hear, not only the high quality manufacturing agenda, but the clean energy transformation agenda coming very strong from China."

Regarding the alleged "overcapacity" in China's EV sector, Otranto said there remains a consistent demand for Chinese new energy products in his company.

SOUNDBITE 2 (English): DINO OTRANTO, CEO of Fortescue Metals Group Ltd.
"In our own business, we're using Chinese batteries. We're seeing BYD blade cell batteries, for instance, be one of the most preeminent sources now of battery materials. They perform exceptionally well in the environments that we have in the desert in Australia, for instance.
Fortescue is very well positioned, so we have an aggressive decarbonization agenda. We need to switch all of our fleets, nearly 800 pieces of heavy machinery to grain fuels. And our strategy is based on batteries. And we ourselves will be sourcing many of our batteries through Asia and specifically from China."

Fortescue, headquartered in Perth, Australia, is one of the world's largest iron ore producers.

Xinhua News Agency correspondents reporting from Perth, Australia.
(XHTV)