A partial view of the premises of Australian mining company Lynas in Gebeng, Pahang state, 270 km east of Kuala Lumpur, Malaysia. Photo by AHMAD YUSNI / EPA
May 26 (Asia Today) -- Australia is moving to reduce Chinese involvement in its rare earths industry as part of efforts to become a major critical minerals power, though experts say the country remains deeply dependent on China for processing technology and supply chains.
The Australian federal government ordered six Chinese-linked investors to sell their combined 17.58% stake in rare earths developer Northern Minerals on national interest grounds, according to local media reports Sunday.
Northern Minerals is developing the Browns Range project in Western Australia, which mines heavy rare earth elements such as dysprosium and terbium used in electric vehicle magnets, offshore wind turbines and advanced defense systems.
The company expects the mine to eventually supply about 8% of global demand for the minerals once full-scale production begins.
