Trump announces deal with Australia to boost production of rare earth minerals

In a sign of escalating tensions, China’s government revealed earlier this month that it was cracking down on rare earth mineral exports to the U.S.

Yet in a move which has left his MAGA base cheering, President Donald Trump recently locked in a mineral deal with Australia. 

Agreement meant to boost production

That’s according to Fox Business, which reported that Trump met with Australian Prime Minister Anthony Albanese at the White House on Monday.

The agreement involves both countries putting $1 billion over the next six months into rare mineral mining and processing facilities.

Trump, Australian PM sign $8.5B critical minerals deal to counter China dominance in rare earths https://t.co/3kfjfAOE5C

— FOX Business (@FoxBusiness) October 21, 2025

What’s more, both countries will make regulatory changes by streamlining their respective permitting processes as well as establish minimum floor prices for the mineral in question.

Finally, the deal also lays out areas of cooperation, including on the mapping of geological features, recycling minerals, and restricting the sale of mining assets on national security grounds.