A US-Australia deal in the race to secure the key minerals needed to power the global energy transition is a “once in a generation opportunity”.
Critical minerals miner Lynas Rare Earths has gained a six-month reprieve to continue operating its billion-dollar processing plant in Malaysia.
The world already faces a daunting challenge to produce the metals and minerals critical to reaching climate goals. Which makes reports out of China quite concerning.
Australians should accept that India needs secure supplies of coal and gas,Madeleine King says,despite calls to shut down these exports.
There were no political threats to burn down the Lynas operations in Malaysia during the recent election,but its position is still precarious.
Lynas Rare Earths chief executive Amanda Lacaze,says the group is prepared for every scenario as the Malaysian Government prepares a decision whether the $8 billion company will be allowed to continue operating in the country.
Lynas is planning in 2023 to drastically ramp up its production of rare earth ores by opening a new processing plant in Western Australia in July,but the group’s ambitions might require a loosening of restrictions in Malaysia.
A former stockbroker with links to Andrew Forrest,and a former president of CPA Australia are among the syndicate behind the $1.5b deal to acquire Palmer’s mothballed nickel refinery.
Federal Treasurer Jim Chalmers recently turned his gaze on the threat of China controlling critical minerals,crucial to the green energy revolution,and
Resources Minister Madeleine King says Western countries will struggle to end their reliance on China for rare earths and critical minerals vital for the defence,aerospace and automotive industries.
The attacks are focusing on Lynas’ environmental record in Malaysia in an attempt to turn public opinion against a new plant it’s building in Texas with US government funding.