Need for Strategic Ownership
Amanda Lacaze, CEO of Lynas Rare Earths, has emphasized the importance of safeguarding Australia’s critical minerals sector, particularly from foreign takeovers. Speaking at the Australian British Chamber of Commerce’s Rare Earth and Lithium event, Lacaze stressed that while Chinese investment could benefit the Australian economy, it’s crucial to maintain control over local critical mineral producers.
Chinese Interest in Australian Minerals
Lacaze highlighted the significant interest of Chinese investors in the Australian minerals industry, with a keen focus on rare earths. She advocated against transferring ownership of Australian mineral firms, especially those vital for future industries, to foreign entities.
Lynas Rare Earths’ Unique Position
As the sole large-scale non-Chinese processor of rare earths, Lynas Rare Earths stands out in the industry. Lacaze pointed out that this status is a result of past Western oversights regarding the strategic importance of rare earths. She noted that China realized the value of rare earths much earlier than Western countries and has spent decades building its rare earths industry.
The Importance of Secure Supply Chains
Lacaze warned that a lack of secure supply chains for critical minerals could disrupt life, particularly in Western countries. She stressed the necessity for the West to develop and maintain resilient supply chains to avoid potential shortages and disruptions.