Australia and the United States have pledged more than $3.5 billion in funding to expand production of critical minerals, in a joint effort aimed at strengthening supply chains for defence, manufacturing and clean energy technologies.
The investment package will support mining and refining projects focused on rare earths and other strategic materials, sectors currently dominated by China. Officials said the initiative is intended to boost industrial resilience and secure access to inputs essential for advanced technologies and national security.
Funding will be channelled through export finance agencies in both countries and directed toward projects in Australia, including rare earth processing facilities and mining developments in nickel, graphite and tungsten.
The agreement builds on a broader framework deal signed six months earlier, under which both countries committed to expanding cooperation on critical minerals and reducing reliance on concentrated global supply chains.