President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical-minerals deal at the White House on Monday (October 20, 2025) as the U.S. eyes the continent's rich rare-earth resources when China is imposing tougher rules on exporting its own critical minerals abroad.
The two leaders described the agreement as a $8.5 billion deal between the allies. Trump said it had been negotiated over several months.
“In about a year from now we'll have so much critical mineral and rare earth that you won't know what to do wit
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