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Chinese rare earths giant looks to set up in Australia

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Chinese rare earths company Shenghe plans to set up an outpost in Australia to advance its local interests despite strong signals the Albanese government would not welcome its enlarged footprint here.

Shenghe Resources’ move to explore setting up an Australian office comes despite federal Labor blocking Chinese investments in rare earths and pumping more than $2 billion of taxpayer money into rare earths projects free of links to China.

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correction

A previous version of this story incorrectly said MP Materials’ link to Shenghe has stopped it from gaining the same support as Lynas from the US Department of Defence. It was updated to reflect MP Materials has equivalent support.

Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com

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    Original URL: https://www.afr.com/companies/mining/chinese-rare-earths-giant-looks-to-set-up-in-australia-20240726-p5jwtw