Australia Plans Rare Earths Boost to Challenge China Dominance

(Bloomberg) — Australian Prime Minister Scott Morrison will announce funding for rare earths refining on Wednesday, including vital components for high-tech batteries, as the nation works with its U.S. ally to diversify sources of the important minerals away from China.

Campaigning in Western Australia ahead of a federal election due by May 21, Morrison will announce A$243 million ($175 million) for four new projects, including a new nickel manganese cobalt battery material refinery hub in the Kalgoorlie region and a vanadium refinery project led by Australian Vanadium Ltd.