BUSINESS

US, Australia seal minerals deal to counter China

The US and Australia signed a pact to expand supplies of rare earths and other critical minerals, aiming to blunt China’s market dominance. A framework outlines $1bn for projects in both countries over the next six months and supports an $8.5bn pipeline of "ready-to-go" ventures to boost mining and processing, including US-backed facilities in Australia. The partners will coordinate on pricing, permitting and reviews of sector deals. Washington also plans a 100-tonnes-per-year gallium refinery in Western Australia and up to $2.2bn in Export-Import Bank financing. Australian miners’ shares, including Lynas, rose ahead of the agreement.

Reviewed by JQJO team

#rareearths #mining #minerals #trade #alliances