Australia will establish a “strategic reserve” of critical minerals, announced Prime Minister Anthony Albanese on Thursday, while many countries try to ensure access to rare earth outside China.
Mining superpower has huge critical mineral deposits such as lithium, nickel and cobalt, but sells most of these gross resources, destined to transform into Chinese factories.
Anthony Albanese said that Australia will begin to store these minerals in the country and sell these coveted raw materials to “key partners.”
Maximize “the strategic value of critical minerals”
“The increasingly uncertain times require a new approach to ensure that Australia maximizes the strategic value of critical minerals,” said Anthony Albanese in a statement.
China has control over the world -based critical mineral supply, which are coming as a new discord issue in the current commercial war between Washington and Beijing.
The president of the United States, Donald Trump, opened an investigation into the “national security effects” of critical minerals, as well as “derived products”, such as smartphones or electric vehicles on Tuesday, such as smartphones or electric vehicles, opening the path to the surcharge.
Source: BFM TV
