A billionaire miner is using China ties to source virus supplies
Australian billionaire Andrew Forrest has spent more than a decade feeding China’s steel-making boom – now he’s leveraging his ties there to source medical supplies for the battle against the coronavirus Down Under.
Forrest’s Minderoo Foundation has pledged A$160-million to source equipment from China, including 33 ventilators, more than one-million face masks and hundreds of thousands of gloves, nasal swabs and coveralls.
A first aircraft loaded with the products is scheduled to leave Shanghai on Wednesday bound for Perth and the logistics effort is being supported by Fortescue Metals Group, the iron-ore supplier founded by Forrest in 2003, which wins more than 90% of revenue from China and shipped its first cargo in 2008.
“The trusted relationships, procurement expertise and logistics knowledge of the FMG and Minderoo Foundation teams, have been fundamental in rapidly securing this vital equipment,” Forrest said.
Supplies will be distributed by health authorities in Forrest’s home state of Western Australia to hospitals, aged care providers and other front-line services, Minderoo said Wednesday in a statement.
Some medical professionals in Australia, just as in other nations, have raised concerns over a lack of sufficient personal protection equipment.
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