Australia still has time to create its own rare earths industry and topple China’s stranglehold over the sector, according to Resources Minister Madeleine King.

But she disputed US President Donald Trump’s claim that by 2027 Australia and the US would be producing so many of the critical minerals that they would be worth $US2, and declined to state a time when Australia’s industry would be competitive.

China and the US have been engaged in a trade war over rare earths for years, but this month, Beijing for the first time imposed export controls on the resources for all countries.

The move sent shockwaves through Western governments as the restrictions apply to the supply of critical metals that are used to make everyday technological products like mobile phones and laptops, as well as a

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