Australia’s most successful rare earths miner and the key global alternative to China’s stranglehold on supply has savaged the Albanese government’s plan to create a critical minerals stockpile.

Amanda Lacaze, chief executive of Lynas Rare Earths, suggested the government was trying to set itself up as a competitor to her company, with the risk it will undercut Lynas on pricing when it tries to sell products to non-Chinese customers. She warned the policy could also prop up unviable projects.