Overview
- The agreement outlines a project pipeline worth up to $8.5 billion, with each country pledging at least $1 billion in financing over the next six months plus commitments to faster permitting and a minimum price floor for key minerals.
- A White House fact sheet cites more than $3 billion in near‑term investments and seven Export‑Import Bank letters of interest totaling over $2.2 billion that could unlock up to $5 billion.
- Initial priorities include a U.S.-backed gallium refinery in Western Australia with 100‑ton annual capacity, participation by firms such as Alcoa, and a planned trilateral project with Japan.
- China’s new rules require licenses for products containing over 0.1% Chinese‑sourced rare earths or made using Chinese extraction or processing technology, with extraterritorial enforcement slated for Dec. 1; analysts say policing global supply chains will be difficult.
- Shares of rare‑earth and critical‑miner firms jumped after the deal, including gains for Lynas, Iluka Resources, Pilbara Minerals and Alcoa, as President Trump threatened 100% tariffs on Chinese goods starting Nov. 1 and said he plans to meet Xi Jinping in South Korea later this month.