[Southern + February 18th News] According to foreign media reports on February 18, recently, when international buyers started hoarding competitions because they were worried about not being able to grab Chinese rare earth products, Australian rare earth miners had a new look. action.
Relevant information shows that China has always dominated the global rare earth production. However, since December 1st last year, after China’s first special law in the field of export control, the "Export Control Law of the People’s Republic of China" took effect, items related to national security and interests have been prohibited or restricted from being exported. Measures.
According to foreign media sources, in order to prevent China from completely banning the export of rare earth resources, international buyers have begun hoarding rare earth metals a few months ago. The intensified "rare earth hoarding competition" has led to soaring international rare earth prices. Australia, which has rare earth resources second only to China and the United States, has made new moves at this time.
According to overseas media reports, Australian rare earth miner "Ion Rare Earth" recently announced that it has reached a plan to raise another 12 million Australian dollars. At that time, Australia may "replace" China's rare earth status in the hearts of international buyers. "Ion Rare Earth" general manager Harrison threatened: "We believe that with the effective of China's rare earth export restrictions, the Macutu project will become an increasingly important strategic asset. Previously, there were already global entities representing government interests. Contact the company.”
Interestingly, although Harrison highly promoted the importance of Australia's rare earth resources in the future, on the other hand, he also admitted that China supplies more than 95% of the world's heavy rare earth production. Dominance.
In fact, Australia’s "ambition" has long been traced. The Australian “Financial Review” once reported that the Australian government intends to inject 10 million Australian dollars (equivalent to RMB 49.26 million) in order to break China’s “near monopoly” position in tungsten mineral resources. A 30-year-old tungsten deposit on the island was restarted and mined.
Data shows that if the Australian government wants to restart this abandoned tungsten mine named "Dolphin Tungsten Mine", it will need at least 85 million Australian dollars. However, the Tasmanian government only injected 10 million Australian dollars.I have already applied for a 10-year loan from the Bank of Australia. To this end, News Australia also referred to the Tasmanian government's move as a "big deal."
It should be mentioned that Australian media reported that in January, the current US President Biden provided 30 million US dollars in financing to Australia Rare Earth Corporation. The company will jointly build a rare earth processing plant in Texas with the US Department of Defense, which also makes the Australian government "very confident" in restarting abandoned tungsten mines and breaking China's "monopoly" in rare resources.
However, Black, the CEO of a company specializing in the production of rare metals, said: “Encouraging the diversification of the supply chain is a wise move. Appropriate federal government support may also be a good solution. But wanting to get rid of dependence on China is not Easy thing, because supply chain transfer is easier said than done, especially when costs in other countries are lower."
In addition, Black also said: "Chinese companies are very good operators, they Will build inventory, but there is no need to worry about inventory depreciation will hit the balance sheet. Because buyers always tend to lower costs, when buyers have nowhere else to go, they can only go to China." And Australia mining An abandoned tungsten mine has to borrow from a bank for 10 years. It is undoubtedly ridiculous to "replace" China's rare earth international status.
proofreading: Ju Weiqiang
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