Australia backs $180m rare earths mine in Victoria farmland
Australia conditionally invested $180 million in a controversial rare earths mine near Minyip in Victoria.
Two government agencies approved conditional funding. The National Reconstruction Fund Corporation gave up to $110 million.
Export Finance Australia gave up to $70 million. The Donald mine is a joint venture between local Astron Corporation and US company Energy Fuels.
It will extract minerals from up to 2,700 hectares near the farming town of Minyip. Once operational, it becomes the fourth-largest rare earths mine outside China.
It is the second-largest in Australia. Total funding committed is now $360 million.
Construction is planned to start before Christmas. Mining will begin from 2028.
The company predicts 200 construction jobs and 150 ongoing jobs. They forecast $205 million annually to the regional economy.
Local farmers oppose the project. They say it destroys prime agricultural land and affects at least one home.
- $180 million
- Government funding approved
- $360 million
- Total funding committed
- Up to 2,700 hectares
- Mining area
- $205 million to regional economy
- Predicted annual economic contribution
Why it mattersRare earths are essential for clean energy. But mining means losing productive farmland. There are also concerns about restoring the land after 52 years.
AustraliaWestern Victoria farmers lose prime agricultural land while Australia positions itself as a more reliable rare earths supplier to allies, reducing dependence on Chinese imports.
✓ Claims checked against the source. checked 2 h ago
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