US President Donald Trump (R) and Australia’s Prime Minister Anthony Albanese display an agreement on critical minerals they signed in the Cabinet Room at the White House in Washington, DC, on October 20, 2025. Saul Loeb/AFP via Getty Images
Australia and the United States have already surpassed their initial critical minerals investment target, agreed when the two countries formed their partnership last year.
During an October 2025 visit to the United States, Prime Minister Anthony Albanese and President Donald Trump signed a rare earths agreement to jointly invest more than US$3 billion ($4.21 billion) in critical minerals projects in Australia over six months.
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