Overview
- President Donald Trump and Prime Minister Anthony Albanese signed a framework at the White House with an $8.5 billion project pipeline to expand non‑Chinese rare earths and critical minerals supply.
- According to the agreement and White House materials, each country will invest $1 billion over the next six months, with more than $3 billion in near‑term projects and US EXIM letters of interest totaling about $2.2 billion that could unlock up to $5 billion.
- The pact deploys policy tools including expedited permitting, price floors and planned strategic reserve measures, plus cooperation on mapping, recycling and offtake, and it includes a Pentagon‑backed 100‑ton‑per‑year gallium refinery in Western Australia.
- Markets responded with sharp gains for Australian rare‑earths miners such as Arafura, VHM and Northern Minerals following indications of financing support tied to the framework.
- China’s Foreign Ministry urged resource‑rich nations to stabilize supply chains after Beijing tightened export controls, while experts note China retains the bulk of global mining and especially processing capacity, making quick diversification unlikely.