One year on from the landmark signing of the United States-Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths, the Albanese Labor Government is backing two more major critical minerals projects.
The partnership is helping Australia build the critical minerals capability needed for advanced manufacturing and defence, while strengthening secure and resilient supply chains with trusted partners.
Export Finance Australia (EFA) has conditionally approved up to A$70 million in financing for Astron Corporation's Donald Mineral Sands Project in regional Victoria, alongside conditional approval of A$110 million investment from the National Reconstruction Fund (NRF).
The Donald Mineral Sands Project will create 200 construction jobs and 100 ongoing operational jobs, unlocking a major new Australian source of light and heavy rare earths.
Those minerals are essential for high-performance magnets, electronics, defence systems and clean energy technologies.
The project will also create opportunities across technical, trade, environmental and operational roles, supported by training, apprenticeships and partnerships with regional education providers.
EFA has also conditionally approved a US$41.4 million loan to Global Advanced Metals to support its tantalum production.
Tantalum is used in electronic capacitors, aerospace alloys and medical implants.
Since Prime Minister Albanese and President Trump signed the partnership in October 2025, more than A$6 billion in support for key critical minerals projects has been announced.
Together, these projects will strengthen Australia's critical minerals capability, support Australian jobs and deepen secure supply chains with key international partners.
Quotes attributable to Minister for Trade and Tourism Don Farrell:
"Export Finance Australia's support for these projects demonstrates how the Albanese Government is strengthening Australia's export capacity and reinforcing our role as a trusted partner in global critical minerals supply chains."
"By backing these projects, we are creating new Australian jobs, supporting regional communities and unlocking export opportunities that will deliver long-term economic benefits."
"These projects strengthen Australia's position in the supply chains providing the critical minerals vital to advanced manufacturing, clean energy and defence technologies."
Quotes attributable to Minister for Resources and Northern Australia Madeleine King:
"Australia has some of the world's richest critical minerals deposits, and projects like this are helping us turn those resources into long-term economic and strategic opportunities.
"The Donald Mineral Sands Project will position Australia as an even more reliable supplier of critical minerals to our international partners and allies.
"Developing new sources of rare earths is vital to diversifying global supply chains and ensuring the materials needed for clean energy, advanced technologies and defence applications are available for decades to come."
Quotes attributable to Minister for Industry and Innovation and Minister for Science Tim Ayres:
"The Albanese Labor Government is backing critical minerals projects that deliver good jobs in our outer suburbs and regional industrial economies.
"The landmark US-Australia Critical Minerals Framework is driving investment and strengthening the supply chains both of our economies rely on.
"Rare earths are essential for everything from advanced manufacturing and defence technologies to new energy generation.
"Australia has the resources and the capability, and we want to capture more of that value here at home - that's what a Future Made in Australia is all about."
