Australia and the United States have announced an injection of more than AU$5 billion into Australian critical minerals and rare earths projects.
The investment is part of the landmark bilateral Critical Minerals Framework, first established in 2025 between the two countries.
Minister for Resources and Northern Australia, Madeleine King, and US Secretary of the Interior, Doug Burgum, have officially identified a suite of priority projects designed to diversify global supply chains.
These minerals, including nickel, cobalt, gallium, magnesium, vanadium, and graphite, are deemed essential for advanced manufacturing, defence systems, and the global transition to clean energy technologies.
“Australia is taking a global lead to diversify crucial supply chains for critical minerals and rare earths, which are vital to support economic and national security for Australia and our trading partners,” King said.
“Australia and the US are delivering on the commitments made in the White House, with priority projects in Australia that support production of rare earths and critical minerals including nickel, cobalt, gallium, magnesium, vanadium and graphite.”
The financial support is being coordinated through Export Finance Australia (EFA) and the US Export-Import Bank (EXIM).
Two major projects have already received substantial backing. EFA and EXIM are working with Tronox Holdings on their rare earths refinery project, issuing coordinated Letters of Support/Interest of up to around AU$424 million each, for a combined total of around AU$849 million.
Both agencies have also issued support of up to AU$500 million each for Ardea Resources’ Kalgoorlie nickel project in Western Australia, which boasts one of the largest nickel-cobalt resources in the developed world.
Trade and Tourism Minister Don Farrell emphasised that the agreement capitalises on Australia’s vast geological resources and technical expertise.
“Australia has abundant deposits of critical minerals and rare earths, well-established resources and energy supply chains, and the expertise to extract and process those minerals,” Farrell said.
The framework also provides indicative support for a wide range of other projects across the country, including sites in the Northern Territory, Victoria, Queensland, and New South Wales.
This partnership aims to bolster supply chain resilience and position Australia as a primary global hub for the minerals needed to meet net-zero commitments.
