Federal Resources Minister Madeleine King says she will not oppose rare earths miner VHM Resources from selling 60 per cent of its output to Chinese processor Shenghe Resources.
This is despite efforts by the US and Australia to reduce the reliance on China’s rare earths processing which currently produces around 85 per cent of the world’s supply.
Head of Northern Australia Strategic Policy Centre John Coyne says “It’s Australia missing out here”.
“We talk a lot about manufacturing and bringing manufacturing back to Australia, there is a real opportunity here for this country to more than miners,” Mr Coyne said.
