Daily Current Affairs / US-Australia Strike $8.5 Billion Rare Earths Deal to Counter China
Category : International Published on: October 23 2025
The US and Australia have signed a landmark deal to strengthen their rare earths and critical minerals supply, reducing reliance on China, which dominates 70% of mining and 90% of processing globally. Both nations will invest $1 billion in the next six months as part of an $8.5 billion plan to boost mining and processing. The agreement hailed by PM Anthony Albanese as a “next-level” partnership aims to secure critical materials for defense, electronics, and clean energy, though experts say full independence may take years.
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