Australia mulls US deal, $777 million rare earth fund
Australia is considering setting minimum prices for critical minerals and investing in new rare earth projects as part of a potential resources deal with the US, the Age reported Sunday.
The government has begun talks with miners about contributing to a A$1.2 billion ($777 million) strategic minerals reserve, the newspaper said, citing a leaked departmental brief circulated in recent weeks.
The proposal under consideration includes possible price floors, government-backed loans, offtake guarantees and direct investment in Australian projects to bolster local producers.
The plan comes amid rising tensions over China’s dominance in processed rare earths and President Donald Trump’s threat of sweeping tariffs in response to Beijing’s export controls.
(By Jason Gale)
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5 Comments
Albert
Security for future supplies , definitely.
Terry
I just don’t get. The government keeps pushing the environmental issues such as global warning etc and then makes deals to carve up the land in various ways damaging earths crust and carving excessive holes to get out various minerals and gas to sell to other countries. It is a joke. Why is the world fighting for fossil fuels if we are suppose to be going green.
Lyuba Doktorovich
I strongly believe that Australian resources belonging to Australian people and future generations.
Why our Government trying to please Trump?
Trump is pro-american and this is absolutely okay because he’s American President but why our PM isn’t pro-australian?
Trump treat our country as his colony and our “leaders” are doing everything to confirm that.
Trump wants Albanese to give him Port in NT which is rented by China for 99 years…
If Australian is sovereign country how foreigners such as ambassador of Ukraine or president of USA can dictate what to do?
Albanese represents people of Australia.
Morrison cancelled deal with France, Albanese probably will cancel business with China…
How other business people will work with Australia, this country can’t be trusted…
China is our neighbour, and I remember how we were prosper when had business with companies in China, when China was investing in Australia.
There are so many things that Australian Government is doing wrong, but please Trump not Australian people is revolting.
Joseph Fuselier
Australia is in an enviable position to make a deal with America on rare earth minerals. National Security depends on it. China is rapidly advancing their military in The Pacific Ocean area. We dare not ignore the hard won lessons of World War Two because China is preparing for war with Taiwan and America 🇺🇸 iscwatchingvalong with Australia 🇦🇺. The amount of missle technology along with J-10/ J-20 Stealth Fighters is astonishing to say the very least! Rare earth minerals are desperately needed to supply Australia and United States Military Forces. We cannot afford political weakness and kow towing to China. For years we outsourced manufacturing and now we are getting cheap made engineered goods that do not stack up to western made products. We need to trade more with other countries and have closer defensr ties with our AUKUS PARTNERS and make sure we as a nation are well supplied with rare earth minerals should an emergency occur. America is heavily investing in Defense in Australia and the rare earth minerals will be an economic game changer for Australia 🇦🇺 for years to come promoting strength and economic security.
Damo
I t is important to ensure the security of these minerals as they are very important for the future. We have companies here already that have huge deposit sites ready to go and production very shortly about to start. Lindian Res has one of the biggest and highest grade deposits in the world. As far as Im aware our gov has done nothing to support there ventures and help raise capital for their massive Malawi project.