Australia and USA to Cooperate on Rare Earths and Strategic Materials

Australian Prime Minister Malcolm Turnbull announced an intention for increased cooperation with the United States on rare earths and strategic materials during his recent visit. This development holds direct relevance for multi-commodity explorer and miner Alkane Resources, which is preparing to commit to its A$1.3 billion Dubbo Project.

The project contains deposits of rare earths, hafnium, niobium, and zirconium, all designated as critical minerals by the US. The bilateral agreement focuses on joint efforts in exploration, extraction, processing, and research and development of these materials.

The Dubbo Project, located in central western New South Wales, offers a source of critical technology metals independent of China and traditional titanium sands production. Alkane Resources' Managing Director, Nic Earner, stated that the governments' recognition of the need for an alternative supply is beneficial.

"As there is increasing demand for the metals that are critical for uses in aerospace, renewable energy and electric cars, Alkane as a future supplier of these metals is likely to benefit from this new government prioritisation which puts the project directly into the national interest of both countries," Mr Earner said. The Dubbo Project has a projected mine life of over 70 years and is construction-ready pending financing.