Australia Mulls US Deal, $777 Million Rare-Earth Fund, Age Says
Australia is in discussions with the United States about a potential resources deal, which could involve setting minimum prices for critical minerals and investing in new rare-earth projects. The Australian government is reportedly considering establishing a $777 million fund to support the development of rare-earth and other critical mineral projects. This move is aimed at reducing the country's reliance on China, which currently dominates the global rare-earth supply chain. The proposed deal with the US is seen as a strategic move to strengthen Australia's position in the global critical minerals market and diversify its trade relationships. The government's focus on developing domestic rare-earth capabilities is part of a broader effort to secure the supply of essential resources and reduce the country's vulnerability to potential supply chain disruptions.
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