US President Donald Trump stated the deal had been negotiated over the past 4 to 5 months.
Revealed On 20 Oct 2025
United States President Donald Trump and Australian Prime Minister Anthony Albanese have signed an settlement on uncommon earth and significant minerals as China tightens management over international provide.
The 2 leaders signed the deal on Monday on the White Home.
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Trump stated the settlement had been negotiated over 4 or 5 months. The 2 leaders may also focus on commerce, submarines and army tools, Trump stated.
Albanese described it as an $8.5bn pipeline “that we’ve got able to go”.
A duplicate of the settlement, supplied by the prime minister’s workplace, stated the 2 international locations will every make investments $1bn over the subsequent six months into mining and processing tasks. Additionally they set a minimal value ground for vital minerals, a transfer that Western miners have lengthy sought.
China has the world’s largest uncommon earths reserves, in keeping with the US Geological Survey information, however Australia additionally has vital reserves.
The 2 leaders additionally deliberate to debate the $239.4bn settlement, reached in 2023 beneath then-US President Joe Biden, wherein Australia is to purchase US nuclear-powered submarines in 2032 earlier than constructing a brand new submarine class with Britain.
US Navy Secretary John Phelan advised the assembly the US and Australia had been working very carefully to enhance the unique framework for all three events “and make clear a few of the ambiguity that was within the prior settlement”.
Trump stated these had been “simply minor particulars”.
“There shouldn’t be any extra clarifications, as a result of we’re simply, we’re simply going now full steam forward, constructing,” Trump stated.
Australian officers have stated they’re assured it would proceed, with Defence Minister Richard Marles final week saying he knew when the evaluation would conclude.
China’s uncommon earth export controls
Forward of Monday’s assembly between the 2 leaders, Australian officers have emphasised Canberra is paying its manner beneath AUKUS — a trilateral army partnership between the US, Australia and the UK, contributing $2bn this yr to spice up manufacturing charges at US submarine shipyards, and making ready to keep up US Virginia-class submarines at its Indian Ocean naval base from 2027.
The delay of 10 months in an official assembly since Trump took workplace has triggered some anxiousness in Australia because the Pentagon urged Canberra to elevate defence spending. The 2 leaders met briefly on the sidelines of the United Nations Basic Meeting in New York final month.
Australia is prepared to promote shares in its deliberate strategic reserve of vital minerals to allies together with Britain, as Western governments scramble to finish their reliance on China for uncommon earths and minor metals.
High US officers final week condemned Beijing’s enlargement of uncommon earth export controls as a risk to international provide chains. China is the world’s largest producer of the supplies, that are very important for merchandise starting from electrical automobiles to plane engines and army radars.
Useful resource-rich Australia, eager to extract and course of uncommon earths, put preferential entry to its strategic reserve on the desk in US commerce negotiations in April.
