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Australia Seeks US Critical-Minerals Deal as Leaked Plan Sets $1.2 Billion Reserve

A leaked blueprint proposes a $1.2 billion reserve to support processing, shielding local producers from subsidised rivals.

Overview

  • A confidential departmental brief outlines price floors, offtake commitments, and government loans and guarantees to back new rare earth and other critical-minerals projects.
  • Officials have begun sounding out Australian miners on potential contributions to the proposed reserve, according to the leaked document.
  • Canberra is working to finalise a minerals arrangement with the United States ahead of Prime Minister Anthony Albanese’s October 20 meeting with President Donald Trump.
  • Pressure on talks has intensified after China expanded rare earths export controls and Trump threatened a 100 percent tariff on Chinese goods and new export curbs on critical software.
  • Ukraine’s ambassador urged Australia to provide mining expertise and encourage investment to help make Kyiv’s minerals pact with Washington workable.