forex.pm forex forum binary options trade - Australia Backs Its Rare Earths Industry To Counter Chinese Dominance

Australia unveiled on Wednesday a new support scheme for its domestic rare earths mining and supply chain industry as the U.S. ally looks to reduce global dependence on China for the minerals critical to technology manufacturing and the energy transition. Australia's government said it would allocate US$180 million (AUS$250 million) in the 2022-2023 budget to support the growth of Australia's critical minerals sector and create a domestic supply chain of secure and stable rare earth metals supply. The federal government also announced...