Lynas Rare Earths, a key global alternative to China’s rare earths supply, has strongly criticized the Albanese government’s plan to establish a critical minerals stockpile. Amanda Lacaze, Lynas CEO, warned that the initiative could be counterproductive and potentially harm Australia’s rare earths industry.
Lynas’s opposition centers around concerns that a government-controlled stockpile could distort market prices and discourage private investment in the sector. Instead, the company advocates for policies that promote long-term stability and encourage the development of a robust and competitive rare earths market in Australia. The debate highlights the complexities of balancing national security interests with the need to foster a thriving private sector in the critical minerals space. Competing approaches to securing critical mineral supplies are emerging globally, signaling a potential shift in how nations approach strategic resource management.
