2.5 billion NPV8 and 100% IRR, page-63

This bbc.com article again reinforces the international importance of Australia's REE supplies. There are crucial, geopolitical needs to "decouple" from Chinese EV supply/domination. China is also making increasing invasion threats against Taiwan, & is supporting Russia's brutal invasion etc.

Similar arguments can also be made for Ni, & downstream EV Ni sulphide production materials- & "pariah" Russia is the world's BIGGEST Ni exporter. This benefits CTM.

bbc's P. Mercer, 18.10.22, said

"The US Energy Secretary Jennifer Granholm warned recently at a conference in Sydney that China was "big-footing" renewable energy technology and supply chains.

Beijing's control of the supply of rare earths has been documented by the Australian Strategic Policy Institute (Aspi), an independent think tank based in Canberra.

It noted how the minerals have become weapons of diplomacy following a 2010collision between a Chinese fisherman and Japanese patrol boatsnear a disputed chain of islands. Beijing complained about the "illegal interception" of its trawlers and retaliated.

"We saw the Chinese government stop rare earth supply to Japan as part of its economic coercion against the Japanese government," says Aspi analyst Albert Zhang.

"Since then, what countries have noticed is that there is a risk by having only one major supplier of rare earths [and] such an essential raw material isn't beholden to just the political will of one government..

Australian experts have said that more recently China threatened to limit rare earth shipments to American defence contractors because of US arms sales to Taiwan".

https://www.bbc.com/news/business-62760354