Oct. 20 at 6:30 PM
$LYSCF What do we know about the US-Australia rare earths deal?
the agreement includes
$1BN in investments from the US and Australia over the next six months, with projects that are "immediately available".
The agreement, he said, will involve three groups of projects:
joint ventures between the US and Australia,
projects that the US will undertake in Australia, including to bolster rare earths processing, and
projects that Australia will undertake itself.
"Part of this deal is a very specific,
$8.5bn pipeline," Albanese said this morning at the White House. He said one project will include Japan, too, adding that "what we're trying to do here is take the opportunities which are there".
both the US and Australia will leverage government funds and private sector support to invest in mining and processing. Those investments will take the form of "guarantees, loans, or equity; finalization of offtake arrangements; insurance; or regulatory facilitation", per the signed framework.