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| Down Under |
| Trump, Australian PM sign $8.5B critical minerals deal to counter China dominance in rare earths |
| 2025-10-21 |
| [FoxBusiness] President's remarks follow China's recent export controls restricting sales of critical minerals Trump and Albanese met at the White House for their first summit and Trump said the deal was negotiated over the past four or five months ahead of the announcement. Albanese said it's an $8.5 billion pipeline "that we have ready to go." Reuters reported that, according to a copy of the agreement provided by the prime minister's office, the two countries agreed to each invest $1 billion over the next six months into mining and processing projects, as well as set a minimum price floor for critical minerals. "In about a year from now, we'll have so much critical mineral and rare earths that you won't know what to do with them," Trump told reporters at the event. As part of the agreement, Trump and Albanese agreed to cut permitting for mines, processing facilities and related operations to boost production of rare earths and critical minerals. The deal also calls for cooperation between the U.S. and Australia on mapping geological resources, mineral recycling and efforts to stop the sale of critical mineral assets on national security grounds. Australia is open to selling shares of its planned strategic reserve of critical minerals to allies including Britain, according to a Reuters report from last month. The move comes as Western governments are looking to reduce their reliance on China for rare earths and critical minerals. Related: Rare earth 10/19/2025 The World Has Woken Up To China's Supply Chain Weaponization: Navarro Rare earth 10/16/2025 Madagascar's president fled to Macron under pressure from Generation Z Rare earth 10/15/2025 Obama's Presidential Library project in Chicago is facing massive backlash over design flaws and skyrocketing costs |
| Posted by:Skidmark |
| #1 |
| Posted by: Skidmark 2025-10-21 06:12 |