According to a report by Reuters, on June 5 local time, Australian Trade Minister Farrell claimed that given the growing concerns over China's dominance in key mineral fields, Australia can provide safe alternative supplies of minerals essential for industry.
In April this year, after US President Trump imposed exorbitant tariffs on China, China quickly retaliated by implementing export controls on a series of key minerals and rare earth magnets.
Australian Trade Minister Farrell Visual China
Among the 50 key mineral resources identified by the United States Geological Survey, China is the largest producer of 30 of them, while Australia owns some of the largest reserves of key minerals.
Farrell told Reuters in an interview: "We believe we can become a safe and reliable supplier in the global critical minerals supply chain."
However, he said that Australia does not want to be limited to just "mining and transporting" minerals but plans to process them as well. This requires support from external capital sources such as the EU, the United States, Japan, South Korea, Singapore, and India.
Foreign Ministry spokesman Lin Jian emphasized that China's export control measures are in line with international practices, are non-discriminatory, and are not targeted at specific countries.
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Source: https://www.toutiao.com/article/7512631658634379812/
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