EU'S EIB WILL WORK WITH AUSTRALIAN GOVERNMENT ON CRITICAL RAW MATERIALS

The EU's European Investment Bank and the Australian government said in a joint statement on Monday they would deepen cooperation on critical raw materials, as Western powers scramble to cut their reliance on China.

With the exception of Japan, Group of Seven countries and the EU are heavily or exclusively reliant on China for a range of materials from rare earth magnets to battery metals.

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