While Trump militarises his secret Police, threatens to take FIFA matches away from Democratic Cities and openly announces CIA coup attempts in Venezuela, he’s going to freak out when he learns this…
BHP Billiton Shifts to RMB Iron Ore Settlement with China
BHP Billiton has struck a groundbreaking agreement with Chinese buyers to settle 30% of its iron ore spot trading in Chinese yuan (RMB) instead of US dollars. Set to begin in Q4 2025, this pivotal arrangement marks a significant departure from traditional commodity trading practices and signals a potential power shift in the global iron ore price trends.
The deal represents more than just a simple currency change. According to industry sources, it requires “the integration of domestic bank loans, cross-border payment systems, and exchange rate hedging to form a closed loop for the whole process.” This complex financial architecture underscores the strategic importance of the arrangement for both parties.
With BHP shipping approximately 295 million metric tons of iron ore to China in 2024 alone, the scale of this currency transition is substantial. The 30% RMB settlement represents roughly 88.5 million tonnes or approximately $8-10 billion USD equivalent in annual trade value.
…Trump is going to flip out when he learns Australian ore will be settled in yuan.
The Global South rises as America stalls.
Increasingly having independent opinion in a mainstream media environment which mostly echo one another has become more important than ever, so if you value having an independent voice – please donate here.
And you think we are dependent on China.
Fantastic. The human race needs to make sure that the USD falls out of use. No human being is safe until yanks are impoverished and miserable.
I reckon Chinese money is as good as anyone else’s.
Of course China is run by an Autocrat and his lackeys who ignore the rule of law and imprison and oppress, minority populations and critics of the regime.
While the United States……………………………………………………….
And you wait until trumph sees this video of epstein being interviewed on Youtube and available via Boing-Boing.
https://boingboing.net/2025/10/16/video-of-epstein-when-asked-about-donald-trump-and-underage-girls.html
Why am I thinking about ron brierly at this point? You know him right? The Titan of nu zillind industry an’ that.
Business Desk
Looking back: David Lange, Roger Douglas, Ron Brierley and the BNZ
https://businessdesk.co.nz/article/the-life/looking-back-david-lange-roger-douglas-ron-brierley-and-the-bnz
If walls could talk…
BNZ. One of three once-were AO/NZ banks now Australian owned and at the time of the report dated 2021 were the second most profitable banks in the world, second only to Canada.
You’d think more questions would be asked about that now wouldn’t ya ?
Would the use of soverign debt be used to enable scum like brierly and the banks to slither out the back door and away? Just asking.
So what are BHP gonna do with all those yuan?
They will sell them to people who want to buy Chinese products. While I don’t have a lot of respect for major mining companies, I have no doubt that they have the financial ability to profit from this change.
Nothing surprises me with Trump anymore. A convicted felon president commuting a convicted fraudster’s sentence. Trump doesn’t do law, he makes his own.
What happens when Trump hears Fonterra sells milk powder for RMB?