The 37th week of the year was packed with news from around the world. While China published export figures on rare earths, the Federation of German Industries painted a bleak picture of Germany’s industry. On the other side of the globe, Australia’s Resource Minister Madeleine King called it a “national mission” to boost the critical minerals sector Down Under—the details in our roundup.
China: Export of Rare Earths Flat Year-on-Year
The export of rare earths from China in August remained roughly at the same level as last year, with 4,723 tons, according to data from the customs authority. However, there was a decline of about four percent compared to July. China has announced new regulations for its rare earth industry starting in October 2024, but the impact on exports remains unclear.
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Industry Federation: Germany’s Industry Needs €1.4 Trillion
Deindustrialization is a real risk in Germany – this is the conclusion of a new commissioned study by the Federation of German Industries (BDI). In light of numerous challenges, the association speaks of an emergency and calls for a “strong industrial policy agenda.” The report contains 15 recommendations to enhance competitiveness. 1.4 trillion euros in additional private and public investments will be needed by 2030.
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Madeleine King: “National Mission” to Boost Australia’s Critical Minerals Sector
Australia’s Resource Minister Madeleine King urges foreign partners to “lean in” to boost the critical mineral and rare earth sectors of Down Under. King emphasized that she believes it is a “national mission” to support these sectors. However, she acknowledged that international cooperation with like-minded partners is crucial for the successful development of the sectors.
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Canada to Probe Tariffs on Chinese Critical Mineral Products, Batteries, Semiconductors
The Canadian government announced it would probe a potential surtax on Chinese critical mineral products, batteries and parts, solar products, and semiconductors. The Department of Finance justified the move by referring to “unfair competition from Chinese producers” that would threaten Canada’s economic prosperity.
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