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Australia and US boost support for critical minerals with $3.5 billion
The funding will back rare earths, nickel and graphite projects through Export Finance Australia and the U.S. Export-Import Bank, officials said.
- On Sunday, Australia and the United States announced a commitment of more than A$5 billion to critical mineral projects, nearly doubling the amount pledged six months ago.
- Prime Minister Anthony Albanese and President Donald Trump signed a framework last October to "counter China's export dominance and ensure Western supply-chain resilience."
- Export Finance Australia and the U.S. Export-Import Bank are directing A$849 million to Tronox Holdings' rare earths refinery and up to A$1 billion to Ardea Resources' Kalgoorlie Nickel Project in Western Australia.
- Resources Minister Madeleine King stated these materials are "crucial to defence systems, advanced manufacturing and clean energy technologies" that support national security for Australia and its trading partners.
- King said Australia is "leading the world" in diversifying critical minerals supply chains as Western nations urgently reduce dependence on China for electric vehicles, solar panels and other technologies.
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Australia and US boost support for critical minerals with $3.5 billion
SYDNEY, April 12 (Reuters) – Australia and the U.S. have committed more than A$5 billion ($3.5 billion) to back a range of critical mineral projects, nearly double the amount pledged when the two countries struck a co-operation agreement six months ago, Canberra said on Sunday. The funding seeks to support Australian ventures to develop and refine metals vital to industries including defence, advanced manufacturing and the energy transition, a…
These investments aim to strengthen Australian manufacturing and encourage the rebuilding of the American industrial base, with a clear emphasis on reducing Chinese influence and strengthening industrial independence.
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Total News Sources13
Leaning Left1Leaning Right3Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 17%
C 33%
R 50%
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