The EU is spearheading a drive to boost domestic production of rare earths and super strong magnets used in EVs and wind turbines to cut dependence on China

For most critical minerals, the US and western nations are minority suppliers with only modest capability to influence global markets, Citizens for Responsible Energy Solutions Forum said

Mineral sands group commits to the country's first refinery, boosted by a $749m loan from the federal government to counter China's dominance of the processing of rare earths

Barring manganese, prices of other commodities such as lithium, cobalt and nickel have increased sharply since the beginning of 2022

Prime Minister Scott Morrison unveiled funding for a slew of projects in Western Australia, saying the big state would become a powerhouse for Australia's allies

Reliance's investment in Lithium Werks, which makes lithium iron phosphate batteries that are mainly used in EVs, includes funding for future growth

Musk retweeted an article saying the Ukraine-Russia conflict had sent commodity prices to their highest levels since 2008, and said his companies "are not alone"

EU filed a complaint against Indonesia at WTO for the Southeast Asian country’s restriction on nickel ore export, but Indonesia remains unbothered

Some of the measures, including incentives for exports, are likely to be incorporated in the National Green Hydrogen Mission

The state planning body plans to boost output and reserves of oil, gas, as well as coal, which powers more than 60% of China's electricity generation plants

But any increase in output is not likely to be significant due to environmental requirements, Yang Wenhua of Shanghai Metals Market told S&P Global Intelligence.

Rare earths prices have soared since the second half of 2021 over supply chain uncertainty from Myanmar and strong demand