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U.S. and Australia Forge $8.5B Pact to Counter China’s Minerals Dominance
U.S. and Australia Forge $8.5B Pact to Counter China’s Minerals Dominance
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BTCCSquare news:
Washington and Canberra have inked an $8.5 billion agreement aimed at reducing reliance on China's stranglehold over rare earths and critical metals. The deal sent Australian mining stocks soaring, with Lynas Rare Earths climbing 4.7%, Iluka Resources surging 9%, and smaller players like VHM and Latrobe Magnesium spiking 30% and 47%, respectively.
A centerpiece of the pact is Alcoa's gallium recovery project in Western Australia, which will receive U.S. government equity. These minerals power everything from EVs to defense systems—sectors where China currently controls global supply chains. The MOVE signals escalating tech-war tensions as Western nations scramble to secure alternative sources.
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