Australia pumps $550m into rare earths refinery project

SYDNEY -- Australia's government will inject $840 million Australian dollars ($550 million) into a rare earths mine and refinery in the country's north as part of efforts to boost the country's role in the energy transition supply chain.

Prime Minister Anthony Albanese made the announcement on Thursday, saying the project in the Northern Territory, which will be operated by Australian miner Arafura, would position the country as a "global leader in ethical and sustainable manufacturing of these minerals."