President Donald Trump and Australian Prime Minister Anthony Albanese on Monday signed an agreement on critical minerals that includes plans for projects worth a total of up to $8.5 billion.
"There will be $1 billion contributed from Australia and the United States over the next six months with projects that are immediately available," Albanese told reporters at the White House during a meeting with Trump.
Albanese said there will be three groups of joint projects between the two countries, which will include companies such as Alcoa
. The U.S. will invest in rare earths processing in Australia, the prime minister said. One project is a joint venture between Australia, the U.S. and Japan, he said.
"What we're trying to do here is to take the opportunities which are there," Albanese told reporters.
