Australia Invests $22 Million in 3 Rare Earth Projects to Counter Beijing’s Export Ban

‘Having an over-reliance on one supplier of any one good or technology puts you in a vulnerable position, and that’s what we want to change,’ said minister.

Jars containing rare earth minerals produced by Australia's Lynas Corp from its Mount Weld operations northeast of Perth, Australia, Aug. 23, 2019. Melanie Burton/Reuters/File

The Australian government will invest nearly $22 million (US$14.8 million) in three rare earth projects led by well-known research institutes.

This comes following Beijing’s trade restrictions in late December 2023 that prohibited the export of technology to make rare earth magnets as well as the communist regime’s efforts to curb the shipment of gallium and germanium in October.