Former US ambassador Joe Hockey has reignited debate over the origins of America’s prolonged confrontation with Iran, attributing the standoff to a combination of flawed intelligence and overt Israeli influence.
A Misreading of Strategy
Speaking in a recent interview, Hockey said Israel persuaded President Donald Trump that the Iranian regime would collapse swiftly, a belief that shaped a series of aggressive policy moves.
Hockey did not mince words, describing Trump’s decision‑making as "stupid" and "wrong" while recalling that the US military had warned the president about the vulnerability of the Strait of Hormuz.
From Conflict to Critical Minerals
According to Hockey, the turbulence of the Middle East has prompted Washington to reconsider its supply‑chain dependencies, with Australia emerging as a trusted source of rare earths and critical minerals.
He suggested that US loan guarantees or direct investment could accelerate Australian projects, pointing to Iluka Resources’ $1.8 billion Eneabba refinery as a flagship initiative.
Iluka’s head of rare earths, Dan McGrath, warned that despite the new Australian output, China still supplies roughly 90 % of the world’s rare earths, underscoring the scale of the challenge.
In June, Iluka secured its first offtake agreement with an unnamed global car manufacturer, guaranteeing deliveries of magnet rare earth oxides from 2028 onward.
The warning extends beyond economics. India’s High Commissioner to Australia, Nagesh Singh, cautioned that trade and resources are being weaponised, urging like‑minded countries to cooperate on supply‑chain resilience.
Western Australia’s Chamber of Minerals and Energy echoed the concern, warning that AUKUS‑related infrastructure could strain the state’s workforce and calling for careful planning.