US–Australia Framework to unlock USD$8.5 billion critical minerals pipeline
The Minerals Council welcomes the announcement of the new US–Australia Critical Minerals Framework, which will help unlock Australia’s vast critical mineral resources and strengthen defence and economic cooperation with our closest ally.
The new Framework includes a USD$1 billion investment from both nations over the next six months to help accelerate and unlock an USD$8.5 billion pipeline of critical mineral projects, with a joint commitment to fast-track approvals.
This is an acknowledgement of Australia’s strategically important role in the development of new technologies, defence capabilities and renewable energy infrastructure that stem from the nation’s array of critical minerals.
And it confirms Australia’s fundamental role in the global supply chain of the very minerals, materials and rare earths that the world requires.
Australia’s rich geology, strong mining and processing capabilities, and reputation for reliability and transparency make it a trusted partner in global supply chains, well positioned to meet the growing needs of our long-standing partners in Asia, the US and Europe.
This is AUKUS in action, the embodiment of the original intent of this historic agreement – shared interests, shared defence capabilities, shared minerals and technologies, and importantly, shared investment.
It is a partnership that will enhance Australia’s reputation as a place to do business, and encourage greater investment in Australian mining and processing, at a time when investment is urgently required to unlock the nation’s next chapter of prosperity.
The Framework is also the result of determined work by the Albanese Government that has put critical minerals front and centre in Australia’s economic, trade and defence partnerships.
Two strategically significant projects have been prioritised under the Framework. In Western Australia, the Alcoa–Sojitz Gallium Recovery Project will deliver around 10 per cent of the world’s gallium supply, a critical input for semiconductors and advanced defence technologies. In the Northern Territory, Arafura’s Nolans Project will produce about five per cent of global rare earths, strengthening energy security and defence supply chains for Australia and its allies.
Australia’s mining sector has long championed open markets, transparent trade and strong, long-term relationships. This approach has built deep trust over more than 50 years with partners including the US, EU, Japan, South Korea and China.
We look forward to deepening these partnerships further, recognising that the differences between our strategic partners are a source of strength and opportunity.