US and Australia Fortify Critical Minerals Defense Strategy

The United States and Australia have unveiled a billion-dollar collaboration intended to curb China's dominance in the critical minerals market. This strategic partnership aims at invigorating Australian mining companies while enhancing the supply chain supporting American industries.

Under this ambitious deal, both nations will invest at least $1 billion each into mining and processing projects. The U.S. Export-Import Bank issued Letters of Interest totaling more than $2.2 billion, targeting U.S.-aligned projects across various companies like Arafura Rare Earths and Northern Minerals.

Furthermore, a focused effort to construct a gallium plant by Alcoa, bolstered by equity financing from both governments, highlights the drive to secure the minerals indispensable to technology and defense sectors.