Australia to invest in rare earth processing projects

By: Dr. Franyi Sarmiento, PhD., Inspenet, March 17, 2022.

The Australian Government will allocate $175 million for rare earth metals processing projects to reduce the country’s dependence on supplies from China, reports Bloomberg.

The four projects include a new center for nickel, manganese and cobalt battery production in the Kalgoorie region and a vanadium refinery project run by the Australian Vanadium company. This would have, according to EFE, the purpose of reducing its dependence on rare earths from China.

Australian Energy Minister Angus Taylor noted that China “currently commands between 70% and 80% of its production.” “China continues to consolidate in supply chains. This initiative is designed to address this domain,” he stated.

Similarly, he indicated that his country is the world’s leading producer of lithium and the second of zirconium. In addition, it has one of the largest reserves on the planet of critical minerals used in advanced technologies, such as the aerospace industry, defense or telecommunications.

Sources: Rumbo Minero – RT news in Spanish : /424219-australia-disburse-million-dollar-rare-earth-projects