Sybella Benchmarking vs Peers, page-158

Every time the Commonwealth throws money at a REE project in Australia, the likelihood of it happening again greatly diminishes IMO. This has mixed outcomes. On one hand, it shows a clear federal interest in supporting the establishment of a local REE industry. However, there's a limit to how much taxpayer money the government can justifiably invest in a single rather risky sector, especially given the current inflationary pressures. I'd be surprised if we see any further funding in the REE space from a federal perspective.

The benefit of Sybella though is its location in Mt Isa. The Queensland government appears keen to prop up a new major operation there since Glencore's departure. Response Plan Following 2025 Closure of Copper Mining – Mount Isa City Council