A US-Australian deal focusing on critical minerals, including rare earths, could mean big things for the industry in central Australia.
A newly-signed deal between Australia and the United States focusing on critical minerals could be the push to create a thriving rare earths industry in Australia and more specifically, central Australia, according to some mineral experts and rare earths industry players.
Full details of the deal have not been made public but Brian Fowler, general manager for the Northern Territory with Arafura, said it was a sign that politicians were realising how geopolitically threatened rare earths are due to China's dominance in the market.According to the company, the $1 billion project has a large, globally significant rare earth deposit of roughly 56 million tonnes.
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