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The Guardian - AU

World

Jonathan Barrett Business editor

Australia and the US have signed a critical minerals deal to take on China’s monopoly. Here’s what you need to know

United States Australia China Alcoa Anthony Albanese Donald Trump

Anthony Albanese shaking hands with Donald Trump — Anthony Albanese and Donald Trump have committed Australia and the US to each provide at least US$1bn towards a pipeline of projects involving rare earth minerals. Photograph: Anna Moneymaker/Getty Images

Australia and the US have signed a critical minerals deal designed to break China’s near complete hold over materials essential to commercial, clean energy and advanced military hardware.

Anthony Albanese and Donald Trump have committed to each provide at least US$1bn ($1.54bn) towards a $US8.5bn ($13bn) pipeline of projects in both countries over the next six months to feed their commercial and defence industries.

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