Australia considers price floor for critical minerals

AUSTRALIA is examining a price floor mechanism for critical minerals to counter Chinese market dominance and attract foreign investment to mining and processing projects, said Bloomberg News on Wednesday.Speaking at a critical minerals summit in Washington DC convened by the Trump administration, Australia’s Resources Minister Madeleine King said the proposal would operate through Export Finance Australia, the government’s export credit agency. “We will work to make sure Export Finance Australia has the right financial tools to be able to introduce price floors,” she said.Australia holds the world’s fourth-largest rare earth reserves but lags China significantly in processing and refining capabilities, said Bloomberg News. The country would need to “work hard to catch up”, King added, noting the resources sector has historically relied on foreign investment.The announcement lifted shares of Sydney-listed producers on Wednesday. Lynas Rare Earths rose 5.3%, Sunrise Energy Metals gained 2.7% and Iluka Resources advanced 0.7% before afternoon trading pared some gains.The move follows President Donald Trump’s unveiling of Project Vault, a $12bn strategic stockpile programme designed to reduce American dependence on Chinese critical minerals. China maintains near-monopoly control over processed critical minerals and has previously weaponised supply during trade disputes.Australia is developing its own A$1.2bn stockpile, initially targeting rare earth elements, antimony and gallium. The initiative complements a 2025 pact with Washington to enhance American access to Australian minerals.The government has published an online prospectus showcasing 49 mines and 29 processing facilities ready for investment, King said.The post Australia considers price floor for critical minerals appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com