Apple has signed a $500m deal with a US firm for rare earth magnets, essential for manufacturing electronics, after China curbed exports of the scarce, vital materials. The backing from one of the world’s most valuable companies comes after MP Materials, which operates the only US rare earths mine, last week agreed to a multibillion-dollar deal with the US Department of Defense that will see the Pentagon become its largest shareholder. Both deals are aimed at mitigating supply chain risks after China limited the outgoing supply of rare earths earlier…
Tag: Mining
Australia news live: Albanese to raise concerns over Chinese steel dumping; Grace Kim wins golf major in miraculous finish
From 43m ago Albanese to raise concerns over Chinese steel dumping at roundtable Anthony Albanese will raise Australian concerns over Chinese steel dumping as he urges industry leaders from both nations to work together to develop low-carbon steel production methods, AAP reports. At a roundtable of Australian iron ore producers and Chinese steelmakers in Shanghai on Monday, Albanese will call on China to address an oversupply of steel in the global market. ‘It is in both countries’ interests to ensure a sustainable and market-driven global steel sector,’ the PM will…
Rare earths: how these critical minerals impact Australian industry and global politics – video
What do tariffs, Australian mining, geopolitics and the trade war between China and the US have to do with tiny magnets made from rare earth minerals like yttrium and scandium? Guardian Australia’s Matilda Boseley explains China has a stranglehold on the world’s rare-earths supply chain. Can Australia break it? Commonwealth to invest a further $200m in rare earth mining project backed by Gina Rinehart Continue reading… The Guardian
The world wants China’s rare earth elements – what is life like in the city that produces them?
Central Baotou, an industrial hub of 2.7 million people that abuts the Gobi desert in north China, feels just like any other second-tier Chinese city. Large shopping malls featuring western chains including Starbucks and KFC stand alongside street after street of busy local restaurants, where people sit outside and children play late into the evening, enjoying the relative relief of the cooler temperatures that arrive after dark in Inner Mongolia’s baking summer. But a short drive into the city’s suburbs reveal another typical, less hospitable, Chinese scene. Factories crowd the…
Australia warned of ‘over-mining’ risk in race to secure minerals needed for clean energy
In the high-stakes quest to break China’s grip over minerals crucial to clean energy technology, Australia risks over-mining while ignoring alternatives such as improved battery recycling, according to a new report. The release of the Jubilee Australia research, which questions mineral demand assumptions and warns against causing unnecessary environmental harm, comes as the federal government prepares a strategy to address China’s dominance of minerals seen as critical to a nation. Jubilee said Australia could be digging up more critical minerals than necessary due to a rush to capitalise on “staggering…
At least five killed in open-pit coalmine collapse in north China
At least five people have died and 48 are missing after an open-pit coalmine collapsed in Inner Mongolia, an autonomous region in north China. One of the walls of the mine caved in at about 1pm local time on Wednesday, burying workers in tonnes of rocks and sand. Another collapse occurred five hours later, forcing the rescue operation to halt. The search resumed on Thursday morning, with fireengines, SUVs, bulldozers and rescue dogs being mobilised from across the province. About 900 government-approved rescue workers were at the scene, and residents…
Australian coal shipment to arrive at Chinese port as unofficial import ban ends
Australian coal cargoes are scheduled to start arriving at Chinese ports on Wednesday, unwinding an unofficial ban imposed amid fraying bilateral relations two-and-a-half years ago. The resumption of the bilateral coal trade marks a significant improvement in relations, which hit a low point at the start of the pandemic after Australia pushed for an independent investigation into the origins of Covid-19, angering Beijing officials. China imposed official and unofficial sanctions on a range of Australian products, including wine, lobsters, timber and barley. It left more valuable commodities such as iron…
Australian coal industry says China market matters less than before, even if import ban ends
Australia would benefit from a lifting of China’s ban on its coal but any gains would likely be modest as miners have largely redirected supplies elsewhere, analysts said. Shares of ASX-listed coalminers shot up on Wednesday after reports China was considering lifting its restrictions on coal imports from Australia from April. The ban was imposed in mid-2020 amid deteriorating bilateral relations that have since begun to improve. Investors pared back their expectations of a significant boon for exporters on Thursday. Whitehaven Coal shares were down almost 2.5% in early afternoon…
Britain’s electric dreams will never come true while China has a materials advantage | John Naughton
In his book Electrify: An Optimist’s Playbook for Our Clean Energy Future, Saul Griffith, an American inventor, entrepreneur and engineer, sets out a plan for decarbonising the US: electrify everything. From now on, every time people replace a vehicle or renovate a building or buy an appliance, they should be buying electric. Every new roof must have solar panels, all new housing must be energy efficient and shouldn’t contain a gas cooker. All that’s required to make this happen is a collective national effort comparable to the mobilisation of the…
‘They want to remove us and take the rock’, say Zimbabweans living near Chinese-owned mines
A convoy of trucks laden with huge black granite rocks trundles along the dusty pathway as a group of villagers look on grimly. Every day more than 60 trucks take granite for export along this rugged road through Nyamakope village in the district of Mutoko, 90 miles east of Zimbabwe’s capital, Harare. The air reverberates with blasts and heavy machinery noises as the mountain above the village is slowly reduced, slab by slab. Quarrying has been happening here since the 1980s. Mutoko stone is sought after for its lustre. It…