U.S. and Australia Agree on Critical Minerals Investment Priorities

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The U.S. and Australia have agreed on priority projects under a critical minerals deal signed between the countries last year, including a rare-earths refinery project planned by Tronox Holdings in Western Australia and the U.S. The allies are also supporting other projects focused on producing rare earths and critical minerals like nickel, cobalt, gallium, magnesium, vanadium and graphite.

Why it matters

Critical minerals are essential for manufacturing defense systems, advanced technologies, and clean energy products. The new investment deal aims to reduce reliance on China, which currently dominates global production of many of these key materials.

The details

The rare-earths project by Tronox, a major producer of titanium dioxide pigment, will have operations in both Western Australia and the U.S. The allies are also prioritizing Ardea Resources' Kalgoorlie nickel project in Western Australia, Alcoa's gallium recovery project in Western Australia, and Arafura Rare Earths' Nolans project in the Northern Territory. Several other potential vanadium and scandium developments have also received indicative support.

• In October 2025, the U.S. and Australian governments announced a critical minerals deal.
• In December 2025, Tronox said it received letters of support from Export Finance Australia and the U.S. Export-Import Bank for potential financing of up to $600 million for its rare-earths plans.
• In February 2026, Ardea Resources said it had received letters of support for its Kalgoorlie nickel project valued at up to $706.4 million.

What they’re saying

What’s next

The U.S. and Australian governments plan to invest more than $3 billion combined in critical minerals projects over the next six months as part of the new deal.