As Australia and the U.S. look to address China’s near dominance of the vital critical minerals market, Anthony Albanese is the first Australian leader to visit Beijing in seven years.
Australian Prime Minister Anthony Albanese holds a bilateral meeting with President Xi Jinping of China on Nov. 15, 2022, at the G-20 summit in Bali, Indonesia. SYDNEY — When Anthony Albanese sits down with Chinese leader Xi Jinping in Beijing on Monday, the meeting will mark an achievement for the Australian prime minister, who has managed to mend once-fractured relations with his nation’s biggest trading partner without making concessions.
But Australian officials are also worried Beijing will cut off critical mineral supply chains — a move that could cripple the world’s transition to cleaner energy and undercut China’s military adversaries. The clash over critical minerals is just one front in an intensifying geopolitical contest between Beijing and Washington. The two superpowers increasingly have vied for influence in the Asia Pacific, where China’s growing military strength and assertiveness have spurred new American security initiatives, including a$150 million U.S.
For years, Lynas was the only major rare earths producer independent of China’s supply chain. It has a processing plant in Malaysia but it is now building one in Texas after its American subsidiary received a $258 million grant from the U.S. Defense Department. “The Chinese have made absolutely certain with their statecraft that if a competitor gets going, they’ll be rubbed out,” he said. “So we’re practicing a bit of statecraft, too.”, Beazley warned conflict with Beijing could result in China cutting off the flow of critical minerals. He called for more critical mineral collaboration within AUKUS, the trilateral security partnership of Australia, the United Kingdom and the United States.
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