Ex-China’ premium market emerging for rare earths

Jenny WigginsInfrastructure reporter

May 24, 2023 – 6.37pm

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The boss of Perth-based rare earths producers Hastings Technology Metals says a “premium” market is developing for the minerals outside China.

While Hastings was not deliberately avoiding China as a buyer of its future rare earth production amid government concerns over diversifying supply chains, a premium market for rare earths is emerging outside China, Alwyn Vorster told The Australian Financial Review Mining Summit in Perth.

Hasting Technology Metals CEO Alwyn Vorster. Trevor Collens

Auto manufacturers like BMW and Mercedes would not walk away from China because they perceived it as a growth market, he said.

“There will be a China market for battery suppliers, there will be a China market for rare earths suppliers,” he said. “But there could be a very interesting ex-China market developing, we hope it could be a premium market ... our focus is on developing that premium market for our future production.”