Breaking China’s Grip on Rare-Earths Markets a ‘Pipe Dream,’ Australia Says
- Resources minister says Australia can be a China alternative
- Australia has big reserves of critical minerals like lithium
The Pilgangoora lithium project in Port Hedland, Australia.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
Australia’s resources minister said it was a “pipe dream” that Western countries could soon end their reliance on China for rare earths and critical minerals -- vital for the defense, aerospace and automotive industries -- due to the Asian powerhouse’s existing grip on global markets.
“That’s a country that has seen this need coming and made the most of it,” Resources Minister Madeleine King told Bloomberg News in an interview.