AdvertisementNationalWAMining Why are Australia’s rare earths ‘crucial for the world’? Joe Hockey has an idea Michael Philipps August 3, 2026 — 12:22pm Save You have reached your maximum number of saved items. When asked what was behind the conflict in the Middle East, Hockey said everything came back to Russia. He told the conference that his firm dealt directly with the US Department of Energy, and helped Australian companies in partnership with the US Embassy to access that money. “So now they are actively investing in Australia on the ground, backing Australian companies.