Australian Resources Minister Madeleine King described the west's desire to shake off rare-earth dominance as a pipe dream. The export of rare-earth elements is essential for many sectors of the high-tech industry; attempts to sever it will be catastrophic.
China's Supply Domination of Rare-Earth Minerals
Madeleine King described the idea of the west not needing supplies from Beijing as unrealistic, reported The Daily Telegraph.
She told Bloomberg that the Chinese government saw it coming and made moves to dominate the trade of crucial materials.
However, Australia's Resources Minister appeared unconcerned, stating that it will not deter Australia and the US from cooperating to increase investments in minerals critical to the defense, aerospace, and automobile industries in order to disrupt Beijing's stranglehold on international supply chains.
It was emphasized that Canberra would strive to use the resources available to them as an alternative source instead of relying solely on Beijing.
Rare-earth metals are a collective of 17 chemical elements that aren't really rare but are difficult to acquire at the required concentration levels.
They are also challenging to extract because they frequently possess naturally occurring radioactive substances like uranium and thorium. Beijing has won the competition to regulate the twenty-first century's most valuable asset.
An Australian Resources official says China has beaten everyone to the gun. The components have all been widely used among producers of cellular or mobile devices, automotive, military hardware, or even kitchen appliances.
Rare-earth materials are also obtained in India, South Africa, Canada, Estonia, Malaysia, and Brazil.
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An Australian Resources official said rare-earth domination has long been at the core of the US-China trade conflict, with Australia holding some of the nation's biggest deposits of these assets. It is one of the biggest producers of critical minerals, allying with Washington.
Not a while ago, the US, which was once the world's leading producer of minerals, became highly dependent on the Chinese. It must be said that Beijing today makes up almost 80% of these high-tech materials and possesses most of the global supply, which is needed by many US high-tech weapons.
During a press conference in Beijing last Tuesday, Chinese Foreign Ministry spokesman Zhao Lijian stated that nations with essential mineral wealth must perform a favorable role in ensuring the security and reliability of important, relevant distribution networks. He stressed that it would be wrong to play politics with it, use it as an instrument, or weaponize it against the global economy.
Rare-Earth Minerals Essential for Worldwide Production
To name a few of the essential resources coveted by nations to propel them forward: lithium, cobalt, platinum, and rare-earth substances are used in various ways. These products are used for national security and climate change, and jet engines, solar panels, and electric vehicles use them.
Australia has one of the world's largest deposits of these assets and is one of the world's largest producers of critical minerals. Western Australia is the location of a significant fraction of the country's lithium and rare-earth production capability.
As said by Siriana Nair, the US consul general in the state capital of Perth, Australia, and the US both have "strong strategic interests" in safeguarding vital mineral distribution networks.
Australian Resources Minister Madeleine King commented that the rare-earth domination of China cannot be broken easily and is a pipe dream of the west, per SCMP.
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