The Biden Admin is looking into subsidising the US critical mineral miners operating costs to protect the relevant US industries.
GR is calling for Aus Govt financial support to reduce Aus critical minerals miners’ AISC in order to compete against China. TO and other CEOs have made similar public statements.
Yet, something remains unresolved.
That being the continuing indirect subsidy by US and Aus govts of China’s import of critical minerals.
Unless an additional protectionist policy is implemented and enforced, it would seem that these subsidies (from taxpayers money, of course) are not doing anything to increase the market price of critical minerals.
Revenue for the same volume exported does not increase, even if the cost of production decreases.
That means China continues to buy them cheap. So if I were China, I’d happily keep quiet and continue to subsidise the low grade high cost mines in China and Africa. The imbalanced competitive status quo is maintained.
How is this political solution even sustainable for the US and Aus economies over the longterm?
ASX Today, page-43434
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