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Iluka catches global attention with rare earths plans

The date of: 2021-02-26
viewed: 1

source:The Australian Finance Review

Iluka Resources is in talks with a number of overseas governments seeking non-Chinese supply of rare earths as it pushes ahead with plans to become the only fully integrated supplier on Australian soil.

A host of Western nations, including the United States, are believed to speaking to Iluka about support for a rare earths refinery at Eneabba in Western Australia.

US president Joe Biden signalled an greater emphasis on rare earths supply in ordering a 100-day review of supply chain vulnerability across four key products. His 100-day order covers critical minerals that are “essential part of defence, high-tech, and other products”.

Iluka Resources managing director Tom O’Leary says the company could become a fully integrated rare earths supplier. 

A Whitehouse statement said: “From rare earths in our electric motors and generators to the carbon fibre used for airplanes—the US needs to ensure we are not dependent upon foreign sources or single points of failure in times of national emergency.”

Iluka is looking to process large monazite-rich stockpiles at Eneabba as well as eventually taking feedstock from a long-life zircon-rare earths mine it would develop at Wimmera in Victoria.



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