AUKUS and critical minerals, with the Honourable Kim Beazley AC
ASPI Podcast: Policy, Guns & Money
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The Problem With Australia's Iron Ore Industry
94% of rare earth production and processing done in China. And they want to keep it that way. So you can make multi-billion dollars worth of profit from your iron ore activity. I think it's about a $120 billion worth that we export to China every year. The total imports of rare earths around the west two years ago was one and a half billion. It's a strange situation. When you talk about things like rare earths or critical minerals, people think, gee, these guys are talking about something that must be a cornucopia. Well, the truth is it creates a cornucopian in something else. But of itself, it is not all that
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