Rare earths: Australia bid to take on China dominance

Recent moves by Beijing have got businesses worried - and Australia is looking to offer an alternative.

Watch LiveBritish Broadcasting CorporationHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcast CategoriesRadioAudio FAQsVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveWeatherNewslettersWatch LiveInside Australia's billion-dollar bid to take on China's rare earth dominance4 days agoShareSaveSuranjana TewariAsia Business Correspondent in EneabbaShareSaveBloomberg via Getty ImagesRare earths are essential in the production of alloys for magnetsDrive three hours north of Perth, and you'll arrive in Eneabba - barren and desolate, just the odd hill in the distance.

This is Western Australia mining territory. Buried in this vast terrain is a massive pit, full of what looks like mounds of worthless dirt.

But appearances can be deceiving: this pit is home to a million-tonne stockpile containing critical minerals, better known as rare earths, which are crucial for making electric vehicles, wind turbines and defence equipment.

And Australia is betting big on this discovery with a billion dollar loan to a mining company to extract these metals - and disrupt a supply chain that China has monopolised.

Will the gamble pay off?