Australia Plans Rare Earths Boost to Fight China ‘Dominance’
- PM Morrison will announce $175 million for four projects
- U.S. and allies want to diversify suppliers of critical metals
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Australian Prime Minister Scott Morrison will announce funding for rare earths refining on Wednesday, including vital components for high-tech batteries, as the nation works with its U.S. ally to diversify sources of the important minerals away from China.
Campaigning in Western Australia ahead of a federal election due by May 21, Morrison will announce A$243 million ($175 million) for four new projects, including a new nickel manganese cobalt battery material refinery hub in the Kalgoorie region and a vanadium refinery project led by Australian Vanadium Ltd.