The Australian government has pledged hundreds of millions of dollars in new funding to challenge China’s grip on supplies of key minerals while starting a critical minerals processing industry which it says could create 262,600 new jobs by 2040.
Minister for Resources and Northern Australia Madeleine King released the Albanese government’s critical minerals strategy 2023-2030 on June 20, which aims to “make Australia a globally significant producer of raw and processed critical minerals and boost economic opportunities for all Australians.”
China controls over 80 per cent of the world’s rare earth supply. The communist country is also the destination for about 97 percent of Australia’s lithium, which is used in batteries, including those for electric vehicles….