US, Australia advance mineral projects under $3.5B agreement

By Hannah Northey | 04/13/2026 01:24 PM EDT

A dozen mining, processing and recycling projects across Australia are moving forward with U.S. support as the countries seek to counter China.

The Minister for Resources and Northern Australia Madeleine King speaks in Question Time in the House of Representatives on November 03, 2025 in Canberra, Australia.

Madeleine King, Australia's minister for resources, speaks in the House of Representatives on Nov. 3, 2025, in Canberra, Australia. Hilary Wardhaugh/Getty Images

Interior Secretary Doug Burgum and Australia Resources Minister Madeleine King are backing a dozen rare earth and critical mineral projects in Australia to counter China.

The projects stem from an agreement President Donald Trump and Australian Prime Minister Anthony Albanese signed in October 2025 with the goal of securing minerals and rare earths that China largely controls. Trump and Albanese have vowed to stockpile minerals; use price supports; and invest about $3.5 billion in mining, processing and recycling projects to counter Beijing.

The cooperation is significant given Australia is the biggest producer in the world of lithium, a silvery-white metal needed to make electric vehicle batteries and other electronic devices. The country also has sizable rare earth deposits.

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“Australia and the U.S. 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,” King said in a statement Monday. “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.”

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