(Source of the above news)
According to reference sources, on 20 local time, U.S. President Trump signed a rare-earth mineral agreement in the White House with Australian Prime Minister Anthony Albanies, who visited.
This is the first time Albanis has visited the White House since Trump took office again as US president.
Promote the "American Rare Earth Chain"
According to the agreement, the two countries will strengthen cooperation in key minerals and rare earth areas, covering various aspects such as mineral processing, capacity building and supply chain security.
Albanese said that the agreement covers a series of cooperation projects with a total value of approximately US $8.5 billion, which will push the cooperation between the two countries in the fields of economy and defense to a new height.
He pointed out that Australia has the capacity to expand the production capacity for rare earth processing, and the agreement includes the construction of related refining facilities in Australia.
Trump said that in about a year, the United States will have a large number of key minerals and rare earths.
It is pointed out that Australia's rare earth reserves rank fourth in the world. In recent years, Australia has been trying to position itself as an alternative source of critical mineral supply to China.
In terms of funding, Albany revealed that the United States and Australia will each invest more than $1 billion in the next six months to launch the first batch of cooperation projects, followed by more projects in the two countries, and plans to develop new projects together with Japan.
The White House reports that the two countries plan to jointly invest more than $3 billion in key mineral projects over the next six months, while the U.S. Import and Export Bank will issue seven financing intentions for a total of more than $2.2 billion, which is expected to drive up to $5 billion in potential investments.
The differences between the two sides in the specific amount of investment have not been further explained.
It is worth noting that the agreement also mentions that the U.S. Department of Defense will fund the construction of a high-end uranium refinery in Western Australia with a projected annual output of 100 metric tons.
On the eve of the Australian Prime Minister’s visit to the United States, Australian Finance Minister Charles Mersen has met in New York with U.S. investment agencies such as Blackstone Group and Blue Owl Capital, promoting Australia as a stable, resource-rich investment destination and key supply chain partner.
According to the analysis, the signing of the agreement aims to promote the "American rare earth chain", reduce its dependence on a single source, and enhance its independent controllability in the field of key minerals.
Episode in alliance talks
During talks on the same day, Trump also said that Australia would obtain the nuclear-powered attack submarine it had been waiting for. This commitment injects certainty into the Australian Anglo-American Alliance (AUKUS) defense cooperation agreement.
The Trump administration said in June that the U.S. is reviewing the AUKUS deal to ensure it is fully in line with the “US Priorities” policy, a move that has raised Australian concerns.
Former President Biden signed an AUKUS agreement that allowed Australia to acquire at least three U.S. Virginia-class nuclear submarines in 15 years.
However, critics believe that the production of Virginia-class submarines in the United States is insufficient. While meeting the needs of the U.S. Navy, it is still a question whether it can deliver submarines to Australia as scheduled.
Although Trump and Albanese exchanged warm greetings in public in an attempt to show alliance unity, interludes also occurred during the talks.
Trump publicly expressed dissatisfaction with Australian ambassador to the United States and former Prime Minister Kevin Rudd's sharp criticism of him in the past. Kevin Rudd called Trump "the most destructive president in history" in 2020, and then deleted the relevant remarks on social media.
Trump said at the scene that he hadn’t been aware of the criticism before and asked where the ambassador was.When his eyes were locked and he sat opposite the table, Trump said: “I don’t like you either, and maybe never.”