President Donald Trump and Australian Prime Minister Anthony Albanese signed a rare earths and critical minerals agreement on Monday aimed at ensuring a steady supply of the materials.
The agreement comes at a time when China is trying to tighten control over global supply.
As they met at the White House for their first summit, Trump said the deal had been negotiated over four or five months. Albanese described it as an $8.5 billion pipeline "that we have ready to go."
The full terms of the agreement were not immediately available. The two leaders said part of the agreement had to do with processing of the minerals. Albanese said both countries will contribute $1 billion over the next six months for joint projects.
The United States has been looking for access to rare earths and critical minerals around the world as China tightens control over global supply.
China has the world's largest rare earths reserves, according to U.S. Geological Survey data, but Australia also has significant reserves.
The two leaders also planned to discuss the A$368 billion($239.46 billion) AUKUS agreement, reached in 2023 under then-President Joe Biden, in which Australia is to buy U.S. nuclear-powered submarines in 2032 before building a new submarine class with Britain.
Navy Secretary John Phelan told the meeting the United States and Australia were working very closely to improve the original AUKUS framework for all three parties "and clarify some of the ambiguity that was in the prior agreement."
Trump said these were "just minor details."
"There shouldn't be any more clarifications, because we're just, we're just going now full steam ahead, building," Trump said.
Australian officials have said they are confident AUKUS will proceed, with Defence Minister Richard Marles last week saying he knew when the review would conclude.
"Part of this deal is a very specific, $8.5bn pipeline," Albanese said this morning at the White House. He said one project will include Japan, too, adding that "what we're trying to do here is take the opportunities which are there".
The Australian Prime Minister arrived at the White House on Monday for his first summit with U.S. President Donald Trump, looking for a bigger U.S. commitment to Australia's critical minerals sector as China tightens control over global supply.
He also expected to discuss nuclear submarines, trade and Indo Pacific stability with Trump, his office said. Albanese travelled to Washington with his minister for resources, but not the foreign and defence ministers.
While Trump has been intent on rolling back Biden-era policies, Australian officials have said they are confident AUKUS will proceed, with Defence Minister Richard Marles last week saying he knew when the review would conclude.
"Australia and the United States have stood shoulder-to-shoulder in every major conflict for over a century," Albanese, re-elected in May for a second term, said in a statement on Sunday.
Ahead of Monday's meeting between the two leaders, Australian officials have emphasised that Canberra is paying its way under AUKUS, contributing $2 billion this year to boost production rates at U.S. submarine shipyards.
The country is also preparing to maintain U.S. Virginia-class submarines at its Indian Ocean naval base starting in 2027.
The delay of 10 months in an official meeting since Trump took office has caused some anxiety in Australia as the Pentagon urged Canberra to lift defence spending. The two leaders met briefly on the sidelines of the United Nations General Assembly in New York last month.
Australia is willing to sell shares in its planned strategic reserve of critical minerals to allies including Britain, Reuters reported last month, as Western governments scramble to end their reliance on China for rare earths and minor metals.
Top U.S. officials last week condemned Beijing's expansion of rare earth export controls as a threat to global supply chains. China is the world's biggest producer of the materials that are vital materials for products ranging from electric vehicles to aircraft engines and military radars.
Resource-rich Australia, wanting to extract and process rare earths, put preferential access to its strategic reserve on the table in U.S. trade negotiations in April.
Michael Fullilove, executive director of the Lowy Institute think tank in Sydney, said the "mood music is good" for the summit, and "the outstanding bilateral issues are not terribly serious.
"The most important thing is for Mr Albanese to establish a cooperative, professional and hopefully warm relationship with the president," he said.
Iran says it is open to talks with countries seeking safe passage through the Strait of Hormuz - disrupted by recent attacks - as Israel continues ...
Canada and the five Nordic countries have agreed to deepen cooperation in military procurement and other areas, in...
Top U.S. and Chinese economic officials launched a new round of talks in Paris on Sunday (15 ...
Ukraine wants money and technology in return for helping Middle Eastern nations that have sought its expertise as ...
French voters head to the polls on Sunday (15 March) to elect their mayors in a closely watched ballot seen as a t...
British MPs have rejected a proposal to introduce an Australia-style ban on social media for under-16s, opting instead to give ministers flexible powers to impose restrictions on platforms.
Australia has granted humanitarian visas to five Iranian women footballers who sought asylum, fearing persecution after refusing to sing their national anthem at an Asia Cup match.
Australia’s move to ban social media access for children under 16 has intensified a global debate, as governments around the world weigh tougher rules amid growing concerns over mental health, safety and screen addiction.
Indonesia will restrict access to social media platforms for children under 16, its communications and digital ministry said on Friday (6 March), becoming the latest country to introduce online guardrails aimed at reducing the risks of addiction and cyberbullying.
A long-running investigation has suggested that the street artist known as Banksy may be legally named David Jones. A report indicates that Jones was previously known as Robin Gunningham, a name long associated with Banksy, before legally changing his name several years ago.
A widening conflict involving Iran, the United States and Israel has triggered escalating military strikes across the Middle East, disrupted shipping through the strategic Strait of Hormuz and raised concerns over global energy supplies. This live report tracks the latest developments.
Iran says it is open to talks with countries seeking safe passage through the Strait of Hormuz - disrupted by recent attacks - as Israel continues to launch wide‑scale strikes on Iranian infrastructure in the west. This live report tracks the latest developments.
North Korea fired what appeared to be a ballistic missile on Saturday (14 March), Japanese and South Korean officials said. The development comes amid the joint annual U.S.-South Korea "Freedom Shield" military drills and South Korean Prime Minister Kim Min-seok's visit to Washington.
Ukrainian drones struck an oil refinery and a key port in Russia’s southern Krasnodar region overnight (13-14 March), local authorities said, causing injuries and damage. In separate action, Russian air attacks on Ukrainian territory killed and wounded civilians near Kyiv, officials reported.
Canada and the five Nordic countries have agreed to deepen cooperation in military procurement and other areas, in the latest push by Canadian Prime Minister Mark Carney to build new global alliances.
Top U.S. and Chinese economic officials launched a new round of talks in Paris on Sunday (15 March) to resolve issues in their trade truce. The discussions aim to smooth the way for U.S. President Donald Trump’s visit to Beijing to meet Chinese President Xi Jinping at the end of March.
Ukraine wants money and technology in return for helping Middle Eastern nations that have sought its expertise as they defend against Iranian kamikaze drones, President Volodymyr Zelenskyy said, after Kyiv sent specialists to the region.
French voters head to the polls on Sunday (15 March) to elect their mayors in a closely watched ballot seen as a test of the strength of the far-right and the resilience of mainstream parties ahead of next year's presidential vote.
Tens of millions of Vietnamese were voting on Sunday (15 March) to elect members of parliament from a list of candidates almost exclusively fielded by the Communist Party, ensuring the party's continued overwhelming dominance.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment