Mining and Metals Firms Move to Cut China Reliance

Lynas is planning to expand rare earth production in Malaysia to rival China, while Sumitomo Electric will boost tungsten output by 50% to reduce dependence on China. Meanwhile, BHP's incoming CEO met with the head of Chinalco in Beijing this week, and iron ore prices slid after the new SA-born boss was sighted in the Chinese capital. A wave of low-cost electric trucks is also heading for Australia.