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SYDNEY, Oct 24 - Australia and the United States will announce plans to cooperate on critical minerals and bolster Pacific Islands infrastructure when Prime Minister Anthony Albanese visits Washington this week, a senior Biden administration official said.
Several announcements, including the infrastructure project, will showcase U.S.-Australia cooperation in the Pacific. A critical minerals task force to boost private investment in Australia's rare earths industry and reduce global reliance on China will be the centrepiece of Albanese's schedule, with Australia committing another A$2 billion in financing to"de-risk" private sector involvement.
No announcements on critical minerals agreements with the U.S. Department of Defense are expected this week. Australian analysts have said that the U.S. auto and defence sectors are large buyers of rare earths and that a long-term sales contract could reduce investor risk in developing Australian processing.
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