An Australian miner is hoping to change the playbook on critical minerals,warning that China’s stranglehold of the sector is an existential threat to Western countries.
A US-Australia deal in the race to secure the key minerals needed to power the global energy transition is a “once in a generation opportunity”.
Mineral sands miner Iluka will demerge its Sierra Leone mines less than five years after purchasing the troubled assets,as it focuses on Australia and diversifying into rare earths.
Mineral sands miner Iluka will spend $1.2 billion to produce rare earths essential for electric vehicles and wind turbines with backing from a federal fund designed to help wean the west off a reliance on China for critical minerals.
The ASX-listed miner’s proposal to build the nation’s first full-scale rare-earths refinery has gained the support of senior Morrison government ministers.
Lynas’ soaring share price reflects the optimism that the rare earths market is finally ready for prime time. The company now faces a novel threat:New competition.
Some companies have returned JobKeeper payments which they did not need but others are failing the test of corporate social responsibility.
From coal to cotton and from wine to education it appears no product is safe,other than Australia’s most important and valuable export - iron ore.
Company outlooks are driving wild swings in stock prices,despite some strong profit gains.