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Automakers look to hedge against China s rare earth dominance
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Spiralling iron ore miners drag ASX to 2 1pc loss
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Switzer Daily
23 July 2021
The ASX200 closed up 1% for the five days to Thursday, an
impressive result as nearly half the nation’s residents are currently in some
form of lockdown and a couple of rough nights on Wall Street. Rising Covid
cases and the aggressive nature of the Delta strain currently spreading through
Sydney and beyond have only slightly dampened investors’ spirits, as the index
holds above 7300 points, however volumes remain flat and many remain on the
sidelines.
Regular readers of this column would be unsurprised to learn
that Fortescue Metals (
FMG) has again topped the trading volumes on
nabtrade, as wealthy investors and traders seek to gain incremental profits
Australia grants Lynas $11 million for new rare earth refining process Reuters 10 hrs ago © Reuters/Melanie Burton A truck carrying rare earths travels towards Lynas Corp s Mount Weld processing plant, in Western Australia
(Reuters) - Lynas Rare Earths Ltd said on Thursday it got a A$14.8 million ($10.9 million) grant from Australia to commercialise a new mineral refining process that produces high-purity rare-earth carbonate.
The grant comes as nations worldwide look at ways to curb their reliance on China for the specialised minerals, which are used in a range of products including electric vehicles, smartphones and military equipment.
Lynas, the world s largest producer of rare earths outside China, said the new refining process would be used at its upcoming A$500 million processing facility in Kalgoorlie, Western Australia.
US wants to reclaim critical rare earth supply chain
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