Two reports published in August on mining projects backed by Australia’s richest person, Gina Rinehart, describe a rare earths mine running mostly on wind and solar power and a large resource upgrade at a niobium and rare earths project in Brazil. Neither describes United States backing or a decision to begin construction.
RenewEconomy reported on 28 August 2026 that the Mt Weld mine, owned by Australian rare earths producer Lynas Rare Earths, averaged 93 per cent renewables from January to June. Motley Fool Australia reported on 17 August 2026 that St George Mining, an ASX-listed explorer, had upgraded the resource at its Araxá project in Brazil.
Key facts
Mt Weld (Lynas Rare Earths)
- The mine and its processing plants ran at an average 93 per cent renewables from January through June, “well above” the roughly 70 per cent Lynas had expected, according to RenewEconomy’s reading of the company’s annual report.
- The site’s 65 megawatt hybrid plant, commissioned by Zenith Energy late last year, combines 24 MW of wind across four turbines, a 7 MW solar farm and a 12 MW/12 MWh battery, backed by a 17 MW diesel system.
- Lynas says the plant saved more than 870,000 litres of diesel in the third quarter alone against the same period a year earlier, when the site ran on diesel only.
Araxá (St George Mining)
- St George upgraded its measured and indicated resource by 155 per cent and says it now holds the world’s largest undeveloped niobium resource: 75 million tonnes of ore containing 435,000 tonnes of niobium pentoxide.
- Macquarie has an outperform recommendation on St George with a price target of 23 cents, against 9 cents at the time of the report, Motley Fool Australia said.
The headline being corrected
The wire headline filed with this story reads: “US, Australia back Gina Rinehart mines as projects move toward construction.” Neither August report supports any part of it. No United States agency or company is named as a backer, no Australian government support is reported, and neither project has a construction decision — Mt Weld is already producing, and Araxá is still at the drilling and resource-estimate stage.
The item reached this desk through wire distribution rather than from a Fiji publisher, and we have not identified a Fiji outlet that ran it. Small Pacific newsrooms carry syndicated business copy that no local reporter is resourced to check against the underlying company filings, which is how a headline like this travels. This desk has traced an unsupported wire headline before, as with an earlier wire headline on easing inflation that no Fiji data stood behind.
Mt Weld’s renewable share
RenewEconomy said the result is notable because Rinehart — whose Lynas stake it valued at around $1.7 billion — is one of the foremost critics of renewable energy in Australia, and because she and the politicians she supports, including One Nation, argue net zero targets should be dropped.
Zenith Energy chief executive Hamish Moffat said the results challenge the perception that high-renewable systems cannot reliably support energy-intensive industry. “These sites have no tolerance for instability or interruption,” he said in a statement quoted by RenewEconomy. Lynas credits the plant with lower costs, better energy efficiency and reduced emissions.
The Araxá resource upgrade
St George’s updated estimate includes a higher-grade subset of 830,000 tonnes of total rare earth oxides above 6.29 per cent grade and 120,000 tonnes of niobium pentoxide above 0.90 per cent, which the company said gives it scheduling options, including targeting high-grade zones in the first years of any mining.
The company said the East Araxá discovery is not yet counted in those figures and that five drill rigs are operating there. St George executive chairman John Prineas, quoted by Motley Fool Australia, said the ability to mine from an open pit and the site’s favourable logistics underpin the company’s potential to build a globally significant niobium and rare earths business.
Macquarie said the upgrade converted a substantial share of the resource into categories suitable for mine planning and economic studies — a step before, not a substitute for, the feasibility work and board approval a build start would require. St George shares were up more than 130 per cent over the prior 12 months, with the company valued at $385 million.
What actual US backing looks like
United States money is flowing into this sector, which is part of why the headline is plausible enough to pass unchecked. It is simply not in either project. MP Materials announced in July 2025 that the US Department of Defense would become its largest shareholder under a multibillion-dollar package including a floor price for neodymium-praseodymium oxide and a second magnet plant. That is the documentary trail a US-backed critical minerals project leaves: a named agency, a stated sum, a signed agreement. Neither the Lynas nor the St George reporting contains anything comparable.
The concentration driving those deals is well documented. The International Energy Agency has put China’s share of refined rare earth output at roughly 90 per cent — the supply position Macquarie, quoted by Motley Fool Australia, points to when it says continuing supply chain disruption and Chinese export restrictions keep lifting demand for critical mineral projects outside China.
Where this touches Fiji
Lynas names electric vehicles, the electrification of industry and wind turbines as its main future markets, according to RenewEconomy’s reading of the annual report. Those are the categories of equipment Pacific utilities and importers buy as they shift off diesel generation, so Fiji’s exposure here is as a buyer of finished goods whose input costs track rare earths supply — not as a supplier of ore. Neither report records any Fiji supply, export or employment link.
Lynas also told shareholders that one of its biggest business risks would be a slowdown in the clean energy transition. That puts the demand case for Rinehart’s largest listed mining asset on the same side of the ledger as the emissions ambition Pacific leaders met in Nadi ahead of COP31 to press for, and on the opposite side of the net zero position RenewEconomy attributes to her and the politicians she supports. That tension, not an investment announcement, is the substance of these two reports.
What the reports do not say
- No United States agency, company or funding programme is named in either report.
- No construction start date and no final investment decision is reported for either project.
- All amounts are in Australian dollars, not FJD.
- Macquarie’s recommendation and 23-cent price target reach this story only through Motley Fool Australia’s relay. The note itself is client research and is not published publicly; this desk has not seen it, and the target should be read on that basis.
Frequently Asked Questions
Did a Fiji outlet publish the "US, Australia back Gina Rinehart mines" headline?
This desk has not identified one. The item was offered here through wire distribution and was checked against the two underlying August reports before any part of it was used.
How does the Araxá resource compare with existing rare earths mines?
St George says its Araxá resource compares favourably in scale and grade with the two largest producing rare earths mines outside China, and that all three share the same carbonatite-hosted style of mineralisation, Motley Fool Australia reported.
How big is Gina Rinehart’s holding in St George Mining?
Macquarie, quoted by Motley Fool Australia, said Hancock Prospecting took part in St George’s recent $60 million capital raising and holds about 10.5 per cent of the company after the placement completed.
Are other Australian mines running on high levels of renewables?
RenewEconomy reported that the Bellevue gold mine achieved between 80 and 90 per cent renewables over the past year, including 155 continuous hours of “engines off”, while Liontown Resources’ Kathleen Valley mine — also in the Rinehart portfolio — has averaged around 82 per cent this year. Zenith Energy built and operates the hybrid plants at all three sites.
