[Washington, 19th Reuters]-The United States and Australia will announce plans for the stable procurement of rare earth (rare earth), which is indispensable for EV parts, on the 20th. A US government official revealed on the 19th.
The announcement will be made in conjunction with the official visit of Prime Minister Morrison. The two countries will discuss cooperation in the field of space development and the issue of plastic waste.
A senior government official explained that both countries are interested in stabilizing and ensuring the global supply of rare earths.
Rare earths are used as components in various products ranging from high-tech home appliances to military equipment. China is the world's largest production and processing country, accounting for more than 80% of the world's processing capacity.
After Beichu trade talks broke down in May, Xi Jinping Jintao has visited the domestic rare earth plant. There is growing observation that China is trying to favor trade negotiations with the United States, taking advantage of its position as the largest producer of rare earths.