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Australia is positioning itself as a key player in the global market for rare earth metals, potentially filling a gap created by China's tightened export controls.
The move comes after Beijing restricted exports of 12 of the 17 rare earth metals on the periodic table. This has sent shockwaves through the industry, with the US and other countries scrambling to secure alternative supplies. Australia, which is currently the third-largest producer of rare earths, sees an opportunity to increase its share in the market.
In a recent meeting with US officials, Australian Treasurer Jim Chalmers signaled that his country was "very well placed" to meet the global demand for these critical minerals. He also expressed willingness to work with partners to ensure Australia becomes a reliable supplier of rare earths to the US and other markets.
The announcement has been seen as a positive development by analysts, who note that China's move could have significant implications for global trade and supply chains. The US, in particular, is heavily reliant on Chinese supplies, which makes Beijing's restrictions a major concern.
China's restriction is also raising concerns about the long-term sustainability of its rare earths industry. Analysts say that China has developed a vast pool of talent in processing rare earth minerals, as well as an advanced research and development network that puts it years ahead of other countries.
In response to Beijing's move, US President Donald Trump has threatened to impose additional tariffs on Chinese exports, which would bring levies to 130% on many goods. The latest spat over rare earths has raised the prospect of relighting the hazardous trade war between the world's two largest economies.
Meanwhile, Australian Prime Minister Anthony Albanese has been seeking to strengthen ties with the US and other countries in the Asia-Pacific region. His government has launched a critical minerals taskforce with Washington, aimed at promoting cooperation on resource extraction and processing.
Australia's relatively low level of expenditure on defense compared to its GDP is also being examined by the US. This raises questions about Canberra's commitment to AUKUS, a trilateral security pact between Australia, the UK, and the US. Despite this, Albanese has expressed a cordial relationship with Trump, who has called him "very nice" and "very respectful".
In pursuit of rare earth minerals, President Trump has pursued several critical-minerals deals in Ukraine, the Democratic Republic of the Congo, and Pakistan. These efforts reflect his transactional approach to resource diplomacy, which links security and technology with strategic minerals.
Australia may be next on Washington's radar, analysts say. With China's control over the global supply chain loosening, Australia could emerge as a key player in the rare earths market. The country has made significant strides in processing techniques and has secured several deals to secure its place in the global industry.
The move comes after Beijing restricted exports of 12 of the 17 rare earth metals on the periodic table. This has sent shockwaves through the industry, with the US and other countries scrambling to secure alternative supplies. Australia, which is currently the third-largest producer of rare earths, sees an opportunity to increase its share in the market.
In a recent meeting with US officials, Australian Treasurer Jim Chalmers signaled that his country was "very well placed" to meet the global demand for these critical minerals. He also expressed willingness to work with partners to ensure Australia becomes a reliable supplier of rare earths to the US and other markets.
The announcement has been seen as a positive development by analysts, who note that China's move could have significant implications for global trade and supply chains. The US, in particular, is heavily reliant on Chinese supplies, which makes Beijing's restrictions a major concern.
China's restriction is also raising concerns about the long-term sustainability of its rare earths industry. Analysts say that China has developed a vast pool of talent in processing rare earth minerals, as well as an advanced research and development network that puts it years ahead of other countries.
In response to Beijing's move, US President Donald Trump has threatened to impose additional tariffs on Chinese exports, which would bring levies to 130% on many goods. The latest spat over rare earths has raised the prospect of relighting the hazardous trade war between the world's two largest economies.
Meanwhile, Australian Prime Minister Anthony Albanese has been seeking to strengthen ties with the US and other countries in the Asia-Pacific region. His government has launched a critical minerals taskforce with Washington, aimed at promoting cooperation on resource extraction and processing.
Australia's relatively low level of expenditure on defense compared to its GDP is also being examined by the US. This raises questions about Canberra's commitment to AUKUS, a trilateral security pact between Australia, the UK, and the US. Despite this, Albanese has expressed a cordial relationship with Trump, who has called him "very nice" and "very respectful".
In pursuit of rare earth minerals, President Trump has pursued several critical-minerals deals in Ukraine, the Democratic Republic of the Congo, and Pakistan. These efforts reflect his transactional approach to resource diplomacy, which links security and technology with strategic minerals.
Australia may be next on Washington's radar, analysts say. With China's control over the global supply chain loosening, Australia could emerge as a key player in the rare earths market. The country has made significant strides in processing techniques and has secured several deals to secure its place in the global industry.