US and Australia Join Forces to Challenge China's Rare Earths Grip

In a bid to counter China's dominance in the global supply of rare earth metals, the United States and Australia announced a joint agreement on Monday to invest billions of dollars in joint ventures on critical minerals, including rare earths. The deal, signed by President Donald Trump and Australian Prime Minister Anthony Albanese, aims to reduce China's stranglehold on the global market. According to the agreement, the two countries will collaborate on the development of new technologies and infrastructure to process and refine rare earth metals, which are essential for the production of renewable energy, electric vehicles, and advanced defense systems. The partnership is expected to create new jobs and stimulate economic growth in both countries. "We are committed to working together to ensure that the United States and Australia have a reliable and secure supply of critical minerals," said President Trump in a statement. "This agreement is a major step forward in our efforts to reduce our dependence on foreign sources of these vital materials." Australian Ambassador to the United States Arthur Sinodinos, who has been a vocal advocate for the deal, noted that Australia's vast reserves of rare earth metals make it an ideal partner for the United States. "Australia's map might as well be the periodic table," he said. "We have the resources, the expertise, and the commitment to work with the United States to develop a more secure and sustainable supply chain for critical minerals." The deal has been welcomed by industry experts, who see it as a much-needed response to China's dominance in the global rare earth market. China currently produces over 60 percent of the world's rare earth metals, and its control over the supply chain has raised concerns about the security of critical industries. "This agreement is a game-changer for the rare earth industry," said Dr. Maria Van Dyke, a leading expert on rare earth metals at the University of California, Berkeley. "By working together, the United States and Australia can create a more diverse and resilient supply chain that benefits both countries and the global economy." The partnership is expected to be a key component of the United States' efforts to reduce its dependence on foreign sources of critical minerals. In recent years, the country has faced growing concerns about the security of its supply chain, particularly in the wake of trade tensions with China. The agreement is also seen as a key element of Australia's economic strategy, which aims to diversify the country's exports and reduce its reliance on the Chinese market. "This deal is a major win for Australia's economy and our national security," said Australian Prime Minister Anthony Albanese. "We are proud to be working with the United States to develop a more secure and sustainable supply chain for critical minerals." The partnership is expected to be implemented over the next several years, with the two countries working together to develop new technologies and infrastructure to process and refine rare earth metals. The deal is seen as a major step forward in the efforts to reduce China's dominance in the global rare earth market and create a more secure and sustainable supply chain for critical industries. *Reporting by Nytimes.*