The mega-project will be built in conjunction with French renewable energy firm Neoen and paired with Neoen's existing Hornsdale Wind Farm north of Adelaide.
Democratic Republic of Congo's government has formally requested financial support from international donors as it confronts a worsening economic crisis, a letter seen by Reuters on Thursday showed.
Manufacturers of products ranging from batteries to electronic devices, and wind turbines to hybrid cars, are scouring the world to secure critical supplies of rare earths
The company, which has been present in the south-eastern African country for more than a decade, says that by 2021 will be producing 3,000 tonnes of rare earths per year.
Minerals company Cobalt 27 Capital Corp made its debut on Canada's Venture Exchange on Friday, raising C$200 million in a listing that offers investors exposure to cobalt, a key metal for batteries in electric cars.
More supply will likely drag prices lower, as the metal already touched a one-year low of $8,680 per tonne on the London Metal Exchange last week and is down more than 10% this year.