For those with the time and interest, here is a key paper...

For those with the time and interest, here is a key paper released yesterday by Kim Beasley and Ben Halton on Critical Minerals, with a particular emphasis on REE.

It weaves together (Western) Australian economic national interest, global supply chain security and the need to contest China's REE monopsony and coercive misbehaviours.

From the conclusion:

"...any credible case suggesting that AUKUS or its partners can realise security of supply without a vast new mega-infrastructure in Australia is simply inconceivable.

"Australia is unmatched globally in many areas. On balance, Australia’s variety of minerals, proven reserves, hundreds of billions of dollars of investment in complementary sectors, deliberately understated geological prospects under the JORC standard, desolate terrain with commonly less ecological fragility, supporting infrastructure, resources technology, scientific mining expertise, and secure sovereignty, on balance, are far beyond the value of any other nation outside of China."

https://www.aspi.org.au/report/aukus-and-critical-minerals-hedging-beijings-pervasive-clever-and-coordinated-statecraft

Yes, this is a call for practical financial support from the USA and UK to build Australia's mining, processing and metallisation capacity. This is way bigger than ILU's commercial interests, which are set to be significantly 'incentivised' by defence and strategic considerations.

Ash