While Walter Energy shuts down two coal mines, leaving hundreds unemployed, HD Mining International plans to bring up to 480 Chinese workers to British Columbia.
At the moment about 90% of the world’s rare earths —used in a variety of industries including green technology, defence systems and consumer electronics— come from China.
The Canadian province has experienced three relatively short-lived gold rushes over the past 150 years, but the persistent issue has been profitably. Now, the problem seems finally resolved.
While the WA government is favours Chinese capitals, Australian junior Padbury Mining says it has secured $6.5 billion to take over the project, but refuses to reveal backer's name.
