The miner is preparing for two rounds of layoffs to take effect on Sept. 25 and Oct. 11, if it doesn't obtain a permit to continue extracting 6 million tonnes of iron ore a year.
The Mt Weld mine has deposits of rare earths elements neodymium and praseodymium, which are in high demand for making magnets used in electric vehicles and wind energy generation.
Contemporary Amperex Technology Co. Ltd., the world’s biggest maker of batteries for electric vehicles, has been considering at least two locations in Mexico near the Texas border.