US and Australia Critical Minerals Agreement: 8.5 Billion Dollars

USA and Australia Sign Historic Agreement for Critical Minerals

US President Donald Trump welcomed Australian Prime Minister Anthony Albanese at the White House and announced that the two countries have signed an important agreement to strengthen their cooperation on critical minerals and rare earth elements.

Agreement Resulting from Negotiations

Trump stated that this agreement, reached after 4-5 months of negotiations, is a significant step, saying, "In about a year, we will have so many critical minerals and rare earth elements that you won't even know what to do with them."

Strengthening Cooperation

Prime Minister Albanese expressed that they would seize every opportunity to strengthen the relationship between the two countries, emphasizing that this agreement will reinforce cooperation in critical minerals. Albanese announced that the agreement includes an $8.5 billion program ready to be implemented immediately.

Future Investments

The White House stated that the two countries plan to invest over $3 billion in critical mineral projects within the next six months, with the recoverable resources in these projects estimated to be worth $53 billion.

Global Supply Chain Cooperation

The new agreement is said to create a model for global supply chain cooperation by evaluating the potential of natural resources. Additionally, it was reported that the US Department of Defense will invest in the construction of an advanced gallium refinery in Western Australia with an annual capacity of 100 metric tons.