Business Daily Australia’s rare earth ambitions
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Aug 12, 2025 
Dan McGrath, Head of rare earths at Iluka Resources, and Madeleine King, Australia’s Resources Minister, discuss the geopolitical tensions surrounding rare earths. They explore Australia's initiatives to break free from China's dominance in this critical industry. The conversation highlights the importance of developing independent supply chains, the complexities of mining and refining, and government support measures to boost local production. They also address the environmental challenges and strategic implications of ensuring a sustainable rare earth supply for the future.
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Iluka's Massive Stockpile
- Iluka holds a million tonnes of rare-earth containing stockpile at a Western Australia site worth over $650m.
- Dan McGrath explains the stockpile lets them refine oxides without immediately opening a mine.
How China Gained Market Control
- China captured rare-earth processing and know-how in the 1990s when operations relocated there.
- Dan McGrath says that shift left China deliberately controlling processing and downstream manufacturing markets.
Use Government Partnerships
- Partner with government to make rare-earth projects economically viable when markets are distorted.
- Dan McGrath states Iluka's refinery relied on an Australian government strategic partnership to proceed.