Australian firms are making significant strides in refining rare earth minerals essential for defense systems, electric vehicles, and clean energy, challenging China's dominance. This development comes amid escalating trade tensions between the US and China, with both sides leveraging control over critical mineral supply chains. Australia's growing production capacity could play a crucial role in securing global access to these vital resources.
Australian firms are edging closer to breaking China’s production stranglehold on the rare minerals used in the world’s critical defence systems, electric vehicles and clean energy transition.
The minerals refined by Australian companies are now a strategic asset as America swings sharply towards a more transactional trade stance under US President Donald Trump, and Beijing counters US tariffs by clamping down on supply of scarce metals. Iluka is building a fully integrated rare earths refinery at Eneabba in Western Australia with the help of a $1.65 billion federal government loan. Within a decade of firing up the plant in 2027, it will account for 10 per cent the world’s rare earth oxide supply, and refine more than a third of globe’s strategically important heavy rare earth oxides, the company says.
“We’re seeing critical minerals being used more and more as bargaining chips in trade negotiations, with countries leveraging their control over supply chains to get a better deal,” Perks said.
RARE EARTHS CHINA AUSTRALIA TRADE WAR ENERGY
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Australia Poised to Break 29-Year Sheffield Shield DroughtSouth Australia is leading the Sheffield Shield competition with four games remaining, putting them in a strong position to end their 29-year title drought. The team has experienced a recent resurgence under coach Ryan Harris and acting captain Ben Manenti. Their victory against Tasmania, one of the closest finishes in Shield history, propelled them to the top of the table.
Read more »
ASX 200 LIVE: Australia shares are poised to open higherASX holds on to gains from previous session as Wall Street slips. Rio Tinto, Glencore discuss potential combination. Follow updates here.
Read more »
Australia's Tightest Races: 10 Marginal Seats Poised to Decide ElectionThe upcoming Australian federal election is expected to be a nail-biter, with numerous marginal seats potentially deciding the outcome. Ten seats, each with a margin of less than 6 percent, are highlighted as crucial battlegrounds. The text explores these seats, outlining their history, key candidates, and the factors that make them so fiercely contested.
Read more »
Josh Inglis poised to make Test debut as Australia prepares for Sri Lanka clashJosh Inglis is the frontrunner to make his Test debut for Australia against Sri Lanka in Galle, with Sam Konstas facing the axe. The move would see Inglis bat in the middle order as Australia considers a spin-heavy lineup.
Read more »
Australia Faces Devastating Heatwave: Record Temperatures Scorch Western Australia, Queensland to FollowRecord-breaking temperatures are plaguing Western Australia, while Queensland prepares for a dangerous heatwave. Perth and Geraldton experience scorching highs, with the former hitting its hottest day in a decade. The BOM warns residents to take precautions against the extreme heat, which can be especially dangerous for vulnerable groups.
Read more »
Double Demerit Periods Across Australia During Australia Day Long WeekendThis article outlines the double demerit point periods in effect across Australia during the Australia Day long weekend. It details the specific jurisdictions affected, the duration of the double demerit period, and the offenses that trigger these enhanced penalties. The article also clarifies how double demerits apply to drivers with licenses from different states and territories.
Read more »