Significant attention is paid to strengthening defense capabilities in the deal between Washington and Canberra.
Trump stated that in a year the USA will have so many rare earth elements that they won't know what to do with them.
US President Donald Trump and Australian Prime Minister Anthony Albanese signed an agreement on critical mineral resources, the White House press service reported. This occurred during Prime Minister Anthony Albanese's visit to the White House.
As stated in the text, both countries intend to invest over 3 billion dollars in critical mining projects over the next six months.
The Export-Import Bank of the United States will issue interest letters for financing of 2.2 billion dollars, which will allow for up to 5 billion USD in total investments to promote critical mining projects and ensure supply chain security. The Pentagon, in turn, will invest in the construction of a gallium processing plant in western Australia.
As part of the deal, significant attention will be paid to strengthening defense capabilities.
Australia has agreed to purchase Anduril underwater drones worth 1.2 billion dollars and accept the delivery of the first batch of Apache helicopters as part of a separate deal worth 2.6 billion USD.
Since February, Australia has allocated 1 billion dollars to the US government for the expansion and modernization of the American submarine manufacturing base, and will allocate another 1 billion dollars by the end of the year.
Australia will invest significant funds in its integrated air and missile defense capabilities, including 2 billion dollars in American companies for its Joint Air Battle Management System.
The parties will also form a partnership to stimulate innovation, economic growth, and technological leadership through strategic investments and joint initiatives.
Australian pension funds will increase investments in the USA to 1.44 trillion dollars by 2035, which is nearly 1 trillion dollars more than the current level. These investments will create tens of thousands of new high-paying jobs for Americans.
NASA and the Australian Space Agency signed a framework agreement to strengthen cooperation in civil space and aeronautics. An Australian lunar rover will join NASA's Artemis program, which aims to return astronauts to the Moon, to develop technologies.
"Part of this deal is quite specific: a project worth 8.5 billion dollars. Over the next six months, Australia and the USA will allocate 1 billion dollars, and projects will be available right now," Albanese said.
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