MELBOURNE—Rare earth developers in Australia say they are edging closer to signing deals with new customers that would drive forward their projects amid mounting global supply concerns over the minerals that are crucial to high-tech industries.
Australia contains only 2.8 percent of the world’s rare earth reserves, according to the United States Geological Survey. However, the country accounts for more than half of the new projects in the global pipeline, according to data compiled by the Western Australian School of Mines (WASM) at Curtin University.
