XD
the two countries will each invest $1bn over the next six months into mining and processing projects.
That’s a laughably small amount to start a large scale mining operation. lol. This is just shuffling money to some contractors to not do jack shit.
Exactly. And even if it resulted in any actual production, China also has a lock on the complex refining process needed to produce rare earth magnets.
Guess I’ll wait six months to see what happens I think I’m hyping this deal up more than I have to but better safe than sorry
Nah, it’s just gonna be another grift: https://lemmygrad.ml/post/9470989
Is that enough to fill the US’s military needs?
It won’t be, but even if it was:
As of 2025 Australia has the fourth-largest reserves of REEs in the world (around 5 per cent of global reserves), and is also the fourth-largest producer of rare-earths (around 8 per cent of global production). However, it does not have facilities for processing them, and sends its minerals to China for processing.
https://en.wikipedia.org/wiki/Rare-earth_industry_in_Australia
😳
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albo grifting the seppos for a billion is pretty funny.
