I worry that the governments might say all these wonderful...

I worry that the governments might say all these wonderful things, but in reality the economics will be extremely tight as China will mess with the market, and is competing using (near?) slave labour (or whatever you call labour that has no rights and is controlled by thugs). And our governments generally have not been either able or willing to adjust for this using tariffs - not even Trump (who I dislike)! But if China invades Taiwan - we may be in the disastrous situation of banning Chinese imports, and being invested in an REE business will be a blast!

ATM the heavy mineral sands business is a great reason to invest in ILU if you look through the cycle, and believe in India. Can't say anything new about that. But it may be that ILU has taken a strategic risk and will be secretly somewhat blackbanned or "last resorted" in China at some stage when they think it suits them. This is both good and bad for the heavy mineral sands business, good that it makes investing in supplying mineral sands for the Chinese market more risky and increases the hurdles for justification, but bad shorter term perhaps while there is merry go rounding by all the suppliers!