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US, Australia Sign $3B Critical Minerals Deal Amid China Export Controls

  • On Monday, U.S. President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical-minerals agreement in the White House Cabinet Room, creating an $8.5 billion pipeline of projects.
  • China announced strict export controls earlier this month, escalating trade tensions as Beijing dominates rare earth refining and the U.S. depends on Chinese imports.
  • The framework commits $3 billion in joint investments over six months, including $1 billion immediate financing, while the Export-Import Bank plans $2.2 billion and the Pentagon backs a gallium refinery.
  • The agreement aims to secure U.S.-Australia supply-chain security and deepen ties, with Trump pledging to accelerate delivery of three Virginia-class submarines before meeting Chinese President Xi Jinping.
  • Longer-Term moves include strategic-reserve sales and market safeguards, as Australia signals willingness to sell shares in a strategic reserve of critical minerals and sets a minimum price floor, positioning itself as one of the few processors of rare earths outside China.
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Lean Left

The Chinese government has very upset US President Donald Trump with the export ban on rare earths. Cooperation with Australia is intended to reduce American dependence.

·Germany
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US President Donald Trump signed a rare earth minerals deal with Australian Prime Minister Anthony Albanese on Monday and said Washington's key ally would receive coveted nuclear attack submarines.

·Vilnius, Lithuania
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NBC Bay Area broke the news in San Francisco, United States on Monday, October 20, 2025.
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