US EditionUS, 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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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.
US, Australia sign pact on critical minerals
WASHINGTON: President Donald Trump and Australian Prime Minister Anthony Albanese signed a rare earths and critical minerals agreement on Monday aimed at ensuring a steady supply of the materials at a time when China is trying to tighten control over global supply. As they met at the White House for their first summit, Trump said the deal had been negotiated over four or five months. Albanese described it as an $8.5 billion pipeline “that we hav…
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.
Australian Rare Earth Shares Surge Following Trump-Albanese Critical Minerals Deal
Australian rare earth shares are soaring following the critical minerals deal between Washington and Canberra, aimed as reducing reliance on Chinese supply chains. U.S. President Donald Trump and Australian Prime Minister Anthony Albanese signed an agreement to improve cooperation between the two countries to mine, process, and supply rare earths and other critical minerals. The deal included a pipeline of US$8.5 billion (A$13 billion) worth of …
The rare earths race is already over and China won
China is better positioned than any other nation to win the rare earths arms race that is now reshaping global trade, tech and investment. As Washington escalates its fight to reduce dependence on Beijing, seen in a new critical minerals agreement signed with Australia on Monday, the reality is becoming clearer that control of the […] The post The rare earths race is already over and China won appeared first on Asia Times.
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