As of 2025 Australia has the fourth-largest reserves of REEs in the world (around 5 per cent of global reserves), and is also the fourth-largest producer of rare-earths (around 8 per cent of global production). However, it does not have facilities for processing them, and sends its minerals to China for processing.
It won’t be, but even if it was:
https://en.wikipedia.org/wiki/Rare-earth_industry_in_Australia
😳