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US takeover of Aussie rare earths minnow part of global tussle
Australian Strategic Materials is a weapon in America’s effort to avoid China’s stranglehold on rare earths processing and magnet making.
Donald Trump’s cordial embrace of Xi Jinping in Beijing won’t stop the fierce struggle over China’s ability to harm the US economy via its control of rare earths processing.
That turns next month’s shareholder vote on a US company’s takeover of Australian Strategic Materials, a small rare earths metals manufacturer and would-be miner, into another tactical weapon in an increasingly urgent global battle.
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US rare earths funding blitz offers opportunity for ASX small caps
US efforts to rebuild ex-China rare earths supply chains are opening funding pathways for ASX explorers with the right assets. Pic Getty Images
China has quietly built a monopoly over critical minerals mining, extraction, processing and manufacturing over the last few decades, culminating in near total control of rare earths and other future-facing metals.
Beijing corners 61% of total rare earths production, holding an even more impressive 92% monopoly over global rare earths processing.
The arrangement was mutually beneficial – China could produce its products at much lower price points than most developed countries and until recently was exporting those goods freely and mostly without restriction.
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