Overview
- The White House said both governments will steer more than $3 billion into projects within six months, with an overall pipeline targeted at up to $8.5 billion.
- The U.S. Export‑Import Bank issued seven letters of interest totaling about $2.2 billion, including support for Arafura Rare Earths and Sunrise Energy Metals in Australia.
- A Pentagon‑backed plan would build a gallium facility in Western Australia that officials say could supply up to 10% of global demand.
- Defense ties were highlighted with Australia set to buy over $1 billion in unmanned underwater vehicles and with AUKUS technology cooperation discussed as reviews continue.
- The move follows China’s early‑October export restrictions on rare earths, as Trump threatens up to 100% tariffs on Chinese goods and analysts caution that scaling non‑Chinese mining and refining will take years and may need price supports.