Dr Wilson said China restricted rare earths supply to Japan in 2010 and chatter in Chinese state media suggested it could happen again, with comment pieces already warning the US it would cut supply if the trade war kept escalating.
Australia is shaping up to be the solution to these concerns with companies such as Northern Minerals and Lynas Corp already muscling in on the Chinese dominance, but it has not been smooth sailing.Northern Minerals was in dire straits at the beginning of the year, only recently attracting sizeable funding, thanks in part to the trade tensions.
Dr Wilson said industry is looking to governments to help share the risk in what has traditionally been a volatile sector. “It’s very hard over the long term for an investor to know. There is a lot of geopolitical reason to do it but that also imposes a lot of risks that might at some point in the future go the other way.
“I’ve also asked the government to tell other governments that they should really go down the supply chain and be fighting off countries that aren’t mining and playing the fair game. Federal Resources Minister Matt Canavan highlighted the government's critical mineral strategy released earlier this year and an Austrade prospectus that highlighted investment opportunities in the sector.
A direct threat to the ministers' owners, the coal and gas industry.
Or Welfare, Liberal Style
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: abcnews - 🏆 5. / 83 Read more »