Australia and the United States have announced a major strengthening of their cooperation in the critical minerals sector, with a financial commitment exceeding 5 billion Australian dollars, or approximately 3,5 billion US dollars. This amount represents almost double the initial pledges made in an agreement reached six months earlier.
This funding aims to support strategic mining projects in Australia, particularly in the extraction and refining of metals essential to high-tech industries. These resources, such as rare earth elements, play a key role in sectors like defense, advanced technologies, and the energy transition.
The initiative reflects a shared desire to reduce dependence on China, which largely dominates the global market for critical minerals. By strengthening their cooperation, Canberra and Washington intend to secure their supply chains and limit strategic vulnerabilities.
The two countries had already agreed last October to each contribute at least $1 billion to support a portfolio of projects valued at $8,5 billion. This new funding marks an acceleration of this strategy, with investments spread across several priority projects over the coming months.
Beyond industrial considerations, this agreement also aims to support the reindustrialization of America's high-tech manufacturing base. More broadly, it illustrates the rise of economic and geopolitical rivalries surrounding strategic resources, which have become a key lever of power in the global economy.
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