Australia Blocked China Rare Earth Deal on Supply Concerns

Reuters reports that China’s bid to gain control of the world’s richest rare earth deposit in 2009 was blocked by Australia’s Foreign Investment Review Board on concern it would threaten supply to non-Chinese buyers.

The market news is quoted as saying:

Minutes of a meeting by the review board on Sept. 23, 2009, obtained by Bloomberg News through an Australia Freedom of Information Act request, show a concern the deal could undermine Australia as a reliable trading partner.

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