Critical minerals industry cheers deal that will ‘encourage greater investment’ as stock prices swing
Australia’s critical minerals industry has broadly welcomed the wideranging rare earths deal struck between the US and Australia, with analysts saying it will strengthen the rare earths supply chain outside of China.
The US and Australia will each invest at least $US1 billion ($1.5 billion) over the next six months to unlock an $US8.5 billion pipeline of critical mineral projects in an attempt to shake China’s global dominance.
The Minerals Council of Australia said the US-Australia Critical Minerals Framework would encourage greater investment in Australian mining and processing.
“This is an acknowledgement of Australia’s strategically important role in the development of new technologies, defence capabilities and renewable energy…
