If you have a phone, camera or an electric car, chances are each of these devices are wholly dependent on key minerals that are processed only in China. | ErykBagshaw
If you have a phone, camera or an electric car, chances are each of these devices are wholly dependent on key minerals that, at the moment, are processed only in China.
Europium oxide, which is used to produce the colour red in household TVs, comes from a global europium stockpile of just 20 tonnes. Stock of ferro dysprosium, used in some magnets, is less than 500 kilograms. In the last few months of 2019, China had begun winding back its exports, well before its relationship with the US, Australia and Europe was pummelled by the coronavirus and China's crackdown in Hong Kong. From August to September 2019 alone, rare earths exports from China to the US dropped by 18 per cent.
The government has committed $125 million to exploring two 2500 kilometre-long corridors in the hope of hitting another rare earths payload. One stretches from the Gulf of Carpentaria down to the border of NSW, South Australia and Victoria. The second runs from Darwin to the Great Australian Bight. It has also invested $4.5 million in critical mineral research and development through the CSIRO and Geoscience Australia but industry figures say it is not enough.
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