U.S. and Australia sign $3B critical minerals deal | TechCrunch

"President Donald Trump and Australian Prime Minister Anthony Albanese inked an agreement on Monday that will pump billions of dollars into critical minerals projects. The U.S. and Australia will together contribute $3 billion to the projects over the next six months. The total project pipeline is worth $8.5 billion, the governments said. As part of the deal, the U.S. Department of Defense will also invest in a gallium refinery in Western Australia capable of producing 100 tons per year."

"Currently, the U.S. imports approximately 21 tons of gallium, which represents 100% of domestic consumption, according to the U.S. Geological Survey. The move comes as China has restricted exports of certain minerals, including rare earth elements, that are vital to the production of electronics and electric motors. Gallium, for example, is used in microwave circuits and blue and violet LEDs, which can be used to make powerful lasers."

President Donald Trump and Australian Prime Minister Anthony Albanese agreed to jointly finance critical minerals projects with a combined $3 billion contribution over the next six months and a total project pipeline valued at $8.5 billion. The U.S. Department of Defense will invest in a Western Australia gallium refinery capable of producing 100 tons per year. The United States currently imports about 21 tons of gallium, meeting 100% of domestic consumption. The move responds to Chinese export restrictions on certain minerals, including rare earths. Australia also agreed to purchase $1.2 billion in autonomous underwater vehicles from defense startup Anduril.

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