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Rare earths Nd and Pr are used in magnets for electric vehicles and wind turbines.
Lynas claims to be the world’s only significant producer of rare earths outside China.
The initiative emerges as rare earth elements gain increasing importance in technological advancements.
Chinese firm Yuxiao Fund was blocked from increasing its stake in the rare earth mining company earlier this year.
Big money is fleeing China under economic woes. And a record low tourism rate suggests a concerning trend: people don’t want to visit China. Meanwhile, more concerns arise over a secret Chinese bio-lab containing around 20 infectious agents, including COVID-19 and HIV, illegal and hidden in California.
