Alkane Resources Limited (ASX:ALK) managing director Nic Earner speaks to Proactive Investors about the US Defence Force saying it would be looking to Australia to supply minerals for its future batteries and weapons.
"Many viewers will know that China supplies about 80% of rare earth magnet materials ... people are saying hang on a minute, there's a geostrategic struggle going on between the US and China," Earner says.
He continues, "China has actually intimated ... that this might be just one of the tools - rare earth materials and rare earth magnets - in that struggle."
"The US Defence is talking about getting proactive in that space and that's certainly seen investors and both state media and Western media react to that."
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