The company secured a $151.68 million loan to develop its flagship Dubbo rare earths project in New South Wales.

The United States earlier this month said it would work with allies to secure the minerals needed for electric vehicle batteries and process them domestically.

While prices of industrial metals have rocketed as the world moves away from fossil fuels, future price rises are likely to be limited to a select few energy transition ingredients.

The company said its approved exploitation and closure plan is the final government-level approval required before construction at Dundas can start.

President Biden to create Supply Chain Disruptions Task Force to address supply chain challenges