Australia Funds Critical Mineral Projects to Break China Reliance

Excavators work at Atlantic Gold Corporation's Touquoy open pit gold mine in Moose River Gold Mines, N.S. on June 6, 2017. A public rally critical of open-pit mining practices is going on today as the mining industry meets in Halifax to promote Nova Scotia's growing gold industry. Demonstrators planned to gather over the lunch hour during the Nova Scotia Gold Show at a hotel at the Halifax airport. THE CANADIAN PRESS/Andrew Vaughan

The Australian federal government announced $243 million (US$176 million) in funding for four critical mineral refining projects to break the country’s near full reliance on China for the products.

Prime Minister Scott Morrison said the projects, that are expected to create over 3,400 jobs, were key to securing domestic manufacturing in Australia.