Australia's Fortescue Group sees China key co-builder of new global green economy

Expressing steadfast optimism in its largest trading partner, Australia's Fortescue Group is doubling down on its relationship with China, viewing the economic powerhouse not just as a historic customer, but as a critical co-builder of a new global green economy.

Speaking to a high-profile gathering of international leaders at the Boao Forum for Asia in Perth, Australia, on Monday, Fortescue Executive Chairman and Founder Andrew Forrest painted a highly bullish picture of Sino-Australian cooperation.

He outlined a vision where decades of iron ore trade evolve into a "multi-billion-dollar green industrial ecosystem" capable of decarbonizing some of the world's heaviest industries.

"Now, with China we are creating a multi-billion-dollar green industrial ecosystem testing the possibilities of creating pollution-free cement, iron, shipping fuels, train and truck fuels, energy, fertilizers and beyond to green compute and information," he said.

Emphasizing the mutual dependence required to achieve these ambitious climate and economic targets, Forrest made a direct appeal for sustained, long-term cooperation.

"For Australia to build and for China to grow, we need each other. And I expect us to meet that responsibility together," he said.