Miners eye 'critical' rare earths market amid doubts about reliability of Chinese supply

A company in the New South Wales Central West is hoping to cash in on the growing rare earths market as countries look to diversify away from Chinese supply.

Key points:

• China dominates the rare earths market but buyers are looking to diversify amid supply chain doubts
• A CSIRO report found there was a huge economic opportunity for Australia as the world transitions to renewable energy
• A company near Dubbo hopes to be the first rare earths mine in NSW

Australian Strategic Materials has a licence to mine rare earths at a site south of Dubbo that contains zirconium, niobium and hafnium.