Australia Backs Rare Earths Projects to Challenge China's Dominance Despite Headwinds

Australia is backing a second large rare-earth mining and processing project, providing an AU$840 million loan to Arafura Resources
This comes two years after AU$1.25 billion was given to Iluka Resources for a similar rare-earths plant
Australia aims to play a bigger role in the rare-earths supply chain, confronting China's dominance
But boosting rare-earth production faces challenges despite expected loosening of China's grip in the next decade
The loans come from Australia's Critical Minerals Facility meant to boost production of important minerals like rare earths