Iluka Resources managing director Tom O’Leary has accused China of rigging rare earths prices so that producers cannot make money, as it tries to advance its grip on the world’s mineral deposits.
Mr O’Leary said there were clear efforts by Chinese state-owned entities to control rare earths deposits and production, including in Western Australia and Victoria.
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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
