US EditionAustralia to stockpile critical minerals in strategic reserve
- Australia will create a strategic reserve for critical minerals, announced by Prime Minister Anthony Albanese.
- The government will initially allocate AUD 1.2 billion to establish this strategic reserve.
- Australia may use its critical minerals as a bargaining chip in tariff talks with the United States, as suggested by Albanese's government.
- China controls about 90 percent of the global supply of rare earths and is protective of its position.
82 Articles
82 Articles
Australia’s Lynas Rare Earths posts near 22% rise in third-quarter revenue
(Reuters) – Australia’s Lynas Rare Earths on Monday posted a near 22% rise in its third-quarter revenue, helped by an uptick in the average selling price across their rare earth products. Lynas, the world’s largest producer of rare earths outside China, reported gross sales revenue of A$123 million ($78.60 million) for the three months ended March 31, compared with A$101.2 million logged a year ago. That compared with the Visible Alpha consensus…
Rare earths and other critical raw materials are essential for the manufacture of smartphones, electric car batteries and defence systems, among other technologies. Their extraction has a high ecological cost, but its strategic importance is increasingly noticeable.
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