Mine, all mine

So-called rare earth elements, such as scandium and terbium, play an essential role in the functioning of mobile phones, electric cars and so on. Most are currently mined in China, at vast environmental cost but with great importance for the country’s finances and bargaining power.

Now, though, Australia is trying to compete, with a vast pit north of Perth. The government has provided a billion dollar loan to a mining company in an attempt to break China’s near-monopoly and expand Australia’s economy and global influence.

Capitalism really is about profits and power, with little attention to ecological impact and true human need.

https://www.worldsocialism.org/spgb/