Australia and U.S. sign deal to speed critical minerals, submarines

Australian Prime Minister Anthony Albanese met with U.S. President Donald Trump at the White House on Monday, where the two leaders signed a bilateral agreement to accelerate investment in critical minerals and announced steps to deepen defence cooperation, including expedited plans for nuclear‑powered submarines and new defence purchases.

The minerals agreement commits both governments to accelerate permitting, processing and financing for projects that supply rare earths and other critical minerals used in semiconductors, batteries and defence systems. Officials said the two countries will mobilize about $3 billion in investment over the next six months as part of an $8.5 billion project pipeline, and establish a joint response group to identify priority minerals and supply vulnerabilities. The U.S. Export‑Import Bank intends to make $2.2 billion available to advance critical mineral projects, and the U.S. Department of Defense will invest in a gallium refinery in Western Australia with an annual capacity of about 100 tons, officials said.

Governments named two Australian priority projects. The Alcoa‑Sojitz gallium recovery project in Western Australia is slated to receive...