US, Australia to unveil plan to improve rare earth supply

It means the Asian nation now has a larger and lengthier hold on the company’s rare earths output.

China's exports of rare earth magnets to the United States rose more than 20% in May from the previous month to their highest since at least 2016.

Cheetah will pay Cdn$5 million to acquire ownership of the near-surface mineral resources on the Nechalacho project

No value was put on the agreement but the Chinese company will also have the right to purchase 3,000 tonnes of rare earth products from the project within three years of production.

The importance of rare earths, has been thrust into the spotlight in recent weeks as China mulls whether to use its position as the world’s dominant supplier as a counter in its trade war with Washington.

The company's decision to stockpile Neodymium Praseodymium (NdPr), used in industrial magnets, was to help it consolidate its position as a preferred supplier to customers outside China.

Washington has grown concerned about its dependence on imports of rare earth minerals from China after Beijing suggested using them as leverage in their trade war.

A group of Chinese firms have jointly established a rare earths innovation centre in the country's Hebei province as part of a plan to develop a manufacturing base in the region.

The Malaysian environment ministry has said it wants to discuss ways to manage the low-level radioactive residue produced by Lynas at its rare earth processing plant.