Australian rare-earth miners up after China announces export controls

Australian Strategic Materials

04/07/2023 06:26

** Aussie rare earth miners rise after China announces plans
to impose export restrictions on some rare elements to protect
national security interests
    ** The controls will require exporters to seek permission to
ship some gallium and germanium products, which are widely used
in the semiconductor industry
    ** Lynas Rare Earths  LYC.AX , world's biggest producer of
rare earth metals outside China, rises as much as 7%
    ** Rare earth developer Hastings Technology Metals  HAS.AX 
climbs as much as 13.4% to its highest level since June 5
    ** Australian Strategic Materials  ASM.AX  and Alkane
Resources  ALK.AX  rise as much as 5.4% and 4.7%, respectively  
    

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))