U.S.-Australia Critical Minerals Deal Backs $8.5B Pipeline

The United States and Australia signed a White House framework to secure supplies of critical minerals and rare earths, establishing an approximately $8.5 billion project pipeline and committing to invest at least $1 billion each over the next six months to finance mining and processing projects. The pact includes measures to speed permitting, support recycling and mapping, allow joint stakes in facilities and set price floors or minimum prices to shield new producers from predatory pricing. Leaders highlighted specific projects including a gallium refinery in Western Australia (projected to supply up to about 10% of global gallium) and a Northern Territory rare-earths development (roughly 5% of global supply), and U.S. export-credit interest and letters of intent have been signaled for firms such as Arafura, Northern Minerals and Lynas with EXIM/EFA financing proposals under discussion. The agreement is explicitly aimed at reducing dependence on China and was announced alongside broader security cooperation, including AUKUS-related procurement such as unmanned vehicles and helicopters. Markets reacted rapidly, with rare-earth miners’ shares rising and the Australian dollar strengthening, though analysts cautioned that implementation details and the durability of price protections remain to be tested.