President Donald Trump and Australian Prime Minister Anthony Albanese on Monday signed an agreement on critical minerals and rare earths that Albanese said includes plans for projects worth a total of up to $8.5 billion.
Albanese, during a meeting with Trump at the White House, said, “There will be $1 billion contributed from Australia and the United States over the next six months with projects that are immediately available.”
But the White House subsequently issued a fact sheet that said the countries would invest more than $3 billion in critical mineral projects over the next six months. It described the agreement as a “framework.”
The White House also said that the Export-Import Bank of the United States will issue seven letters of interest for more than $2.2 billion in financing, unlocking up to $5 billion in total investment.
