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Australia Invests $1.65 Billion in Rare Earths Refinery

8/18/2025

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Summary

Story summary

Australia is investing A$1.65 billion in a rare earths refinery to decrease dependence on China's supply.
Iluka Resources has a million-tonne stockpile of critical minerals valued over $650 million, essential for electric vehicles and defense.
The refinery aims to address rising demand by 2030, though environmental pollution concerns from processing remain.

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Story summary

Australia is investing A$1.65 billion in a rare earths refinery to decrease dependence on China's supply.
Iluka Resources has a million-tonne stockpile of critical minerals valued over $650 million, essential for electric vehicles and defense.
The refinery aims to address rising demand by 2030, though environmental pollution concerns from processing remain.