Billionaire Friedland to build major US-backed rare earths mine

· Trade · United States · Australia

An Australian miner led by billionaire Robert Friedland and backed by the US Department of War has given the go-ahead for a major rare earths project, according to a report. The project aims to boost Western supplies of rare earths, which are critical for defence, electronics and clean energy and currently dominated by China. No details on the location, cost or timeline were given.

Why it matters：New Western rare earth capacity could reduce dependence on China for strategic minerals.

Key points

  • Project backed by the US Department of War
  • Rare earths are dominated by China
  • No location, cost or timeline disclosed

Sources (original reporting)

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