As l wrote in my last post regarding REE in particular NTU (lm a...

As l wrote in my last post regarding REE in particular NTU (lm a holder) company boards,(question around price manipulation ) comments courtesy Stock…d
Pushback from the West

Already the world’s top rare earths producer by a country mile, China’s efforts to gain a share of Australia’s resources have been met with pushback from sectors of the industry.

Iluka Resources (ASX:ILU) MD Tom O’Leary unusually used the ASX 100 firm’s most recent AGM to rail against China’s control over rare earths pricing and market dynamics.

His firm is facing cost overruns on a refinery at its Eneabba project in WA’s Mid West at the same time as NdPr prices sit at cyclical lows.

Browns Range project owner Northern Minerals (ASX:NTU), meanwhile, has spent much of the past year facing an attempt from a Chinese shareholder to take control of its board, with investors interpreted to be linked by the Foreign Investment Review Board ordered to sell their shares by Treasurer Jim Chalmers last month. A number of director applications, not endorsed by the NTU board, were knocked back at the company’s recent AGM.

And Arafura Rare Earths (ASX:ARU), the most advanced Australian developer after Lynas, Iluka and Hastings, has received hundreds of millions in loan commitments not only from the Australian Government, but also from the export credit agencies of Korea, Canada and Germany, all keen to secure a non-Chinese source of the metals used in electronics, wind turbines and EV motors.

But other juniors have leveraged investments and offtake deals from Chinese producers in the hope of getting into production faster.

DYOR please