Australian miner Fortescue Metals (FSUMY.PK) has begun settling transactions with China in yuan,...

|About: Fortescue Metal Adr (FSUMY)|By:, SA News Editor

Australian miner Fortescue Metals (FSUMY.PK) has begun settling transactions with China in yuan, expecting to expand the practice quickly. "We are now exploring the possibilities of being paid in renminbi, purchasing equipment in renminbi from our renminbi bank accounts," says incoming CEO Andrew Forrest.