US President Donald Trump and Australian Prime Minister Anthony Albanese have signed a Framework Agreement on Critical Minerals. The document is aimed at countering China. This is reported on the Australian government website.
“Australia is home to most of the elements of the periodic table, which contain important minerals and rare earth elements that are vital for defense and other advanced technologies“, – said Anthony Albanese.
As noted in the press release, the agreement will ensure a secure supply chain of critical minerals between the United States and Australia. During the signing ceremony, it was also announced that both countries would invest at least $1 billion in priority projects for the extraction of such minerals.
“In about a year, we will have so many important minerals and rare earth metals that you will not know what to do with them. They will cost $2,”, — said Donald Trump.
The agreement is designed to strengthen the positions of the United States and Australia in competition with China. According to the US Geological Survey, China has the largest reserves of rare earth elements in the world and has recently introduced stricter rules for their export. At the same time, Australia also has significant deposits of such resources.
