The agreement was signed between the President of the USA, Donald Trump, and Australia's Prime Minister Anthony Albanese on Monday and is estimated to be worth approximately 80 billion kronor.
In about a year, we will have so many critical minerals and rare earth metals that we do not know what to do with them, says Donald Trump after the meeting.
Critical minerals are crucial for the manufacture of several technology-related products, for example batteries for electric cars, and the concept includes, among other things, lithium and nickel.
Critical minerals also include rare earth metals, whose export is dominated by China.
Albanese emphasizes that Australia has large deposits of critical minerals and that the agreement is a way to reduce China's grip on the global supply of rare earth metals.
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