Australia is considering mandated floor prices for critical minerals and new funding for rare earth projects as part of a proposed resources deal with the U.S., the Age reported Sunday. Talks are underway with miners to contribute to a AUD 1.2 billion “critical minerals strategic reserve,” according to a leaked brief from Prime Minister Anthony Albanese’s office. Albanese aims to finalize the deal before his October 20 summit with President Donald Trump in Washington—their first meeting during Trump’s second term. The initiative reflects growing Western efforts to reduce dependence on China for rare earths and minor metals. Reuters previously reported that Australia is open to selling shares in its strategic reserve to allies, including Britain, as part of a broader push to secure supply chains.
