- Cook Labor Government welcomes Australia-US agreement on critical minerals and rare earths
- Government also welcomes US reaffirming its commitment to delivering AUKUS
- Albanese Labor Government's endeavours support Western Australian jobs and government's efforts to diversify State's economy
- Critical minerals deal to be supported by government's State Development Bill to secure economic opportunities, jobs for WA's future
The Cook Labor Government has welcomed commitments by the United States of America to support Australia's critical minerals sector and deliver AUKUS following a historic meeting between Prime Minister Anthony Albanese and US President Donald Trump at the White House in Washington DC.
Western Australia will be a significant beneficiary of a landmark bilateral framework on critical minerals and rare earths between Australia and the United States.
The agreement between Australia and the US paves the way for greater cooperation and investment in rare earths and critical minerals mining and processing - which will help diversify WA's mineral supply chains and support its burgeoning defence, renewable energy and advanced manufacturing sectors.
With world-class reserves of lithium, nickel, cobalt and rare earths, WA is uniquely positioned to benefit from and deliver on the aims of this historic agreement with one of Australia's closest allies.
Under the framework agreement, the US and Australia will each provide at least $US1 billion in investments towards an $US8.5 billion pipeline of priority critical minerals projects in Australia and the US over the next six months.
WA will benefit immediately from a $US200 million investment in concessional equity finance by the Commonwealth Government in the Alcoa-Sojitz Gallium Recovery Project in Wagerup south of Perth.
The US Government is also making an equity investment with a right of offtake.
This project is expected to provide up to 10 per cent of total global supply of gallium, an essential input for defence and semiconductor manufacturing.
The Alcoa-Sojitz Gallium Recovery Project is a trilateral arrangement between Japan, the US and Australia which will strengthen collective economic security.
The project aligns with the Cook Labor Government's focus not only on critical mineral extraction but also on building future industries.
Through investment in downstream processing, battery component manufacturing and value-adding sectors, we are creating skilled jobs and long-term economic benefits for communities across the State.
Australia and the US have also reaffirmed their commitment to delivering AUKUS, which will see defence become WA's second-largest industry and make Henderson the southern hemisphere's largest naval maintenance and shipbuilding hub.
This supports the Cook Labor Government's determination to diversify the economy for the future and ensure it remains the strongest in the nation.
As stated by Premier Roger Cook:
"My government's vision is to diversify Western Australia's nation-leading economy.
"That means ensuring WA remains a global lead in the resources industry and the best place in the world to get a quality job.
"This deal is a win for Western Australia and a win for Western Australian jobs.
"The outcome of this historic meeting backs my government's confidence in AUKUS and critical minerals and our determination to diversify our economy for the future.
"This is a Federal Government that gets WA.
"I want to thank Prime Minister Anthony Albanese and WA-based Federal Resources Minister Madeleine King for their efforts to secure a deal that will create more opportunities for Western Australians - and help us to continue to power the nation.
"The deal also highlights the importance of my government's State Development Bill, which will help us take advantage of these opportunities and ensure quality jobs for many years to come.
"Together with the Albanese Government, we are diversifying WA's nation-leading economy so that our State can become a renewable energy powerhouse and a place that makes more things here."
As stated by Mines and Petroleum Minister David Michael:
"As well as being an historic agreement between Australia and the United States, the bilateral framework on critical minerals and rare earths provides a unique opportunity for Western Australia.
"Critical minerals are at the core of WA's economic diversification strategy, and this agreement is set to provide a significant boost in establishing our State as a leading force in downstream processing, advanced manufacturing and value-adding industries.
"I congratulate the Albanese Labor Government, and in particular WA-based Federal Resources Minister Madeleine King, as well as the local critical minerals industry on securing this historic agreement for WA and the nation.
"Critical minerals and rare earths are more than a resource.
"They are the foundation of future industries and Western Australia stands ready to deliver."
As stated by Defence Industries Minister Paul Papalia:
"Western Australia's rare earths are critical to the defence of our nation and that of our allies.
"Gallium is the new gold for defence - boosting everything from battery endurance to guided missiles systems.
"What comes out of the ground here in WA will bolster national security and help diversify our economy for generations.
"We've always said AUKUS is a good deal for the US - it will provide our allies with a strategic base in the Indo-Pacific region - and President Trump has now confirmed this fact."
As stated by Manufacturing Minister Amber-Jade Sanderson:
"The bilateral framework agreement signed between Australia and the United States provides a boost for the further development of an advanced manufacturing sector in Western Australia.
"The guaranteed investment underpinning the framework will drive supply chain diversity and provide the confidence needed for proponents to pursue opportunities here.
"With a rich endowment of the critical minerals central to the framework, Western Australia is ideally placed to benefit from downstream processing and the further use of the minerals in advanced manufacturing."
