Opposition Leader Sussan Ley has welcomed the critical minerals deal struck between Australia and the US at this morning’s bilateral meeting between Albanese and Trump, but warned that the deal was merely “a first step”.
“The rare earths agreement, the critical minerals we welcome. But this is just a first step, and we see approvals and investments grinding to a halt in this country because of this government’s approach to environmental approvals. We see a critical pipeline of investment drying up. We will need that investment to come to the fore to make this a success,” Ley told Sky News this morning.
Opposition Leader Sussan Ley. Credit: Sitthixay Ditthavong
“I welcome the assurances about… the beginning of the critical minerals deal, but there are obviously a lot more details to unpack there.”
The rare earths deal signed today aims to ensure a steady supply of the critical minerals at a time when China is trying to tighten control over global supply.
Under the deal, Albanese said Australia and the US would each contribute $1 billion over the next six months for projects that are immediately available, and the deal would unlock an $8.5 billion pipeline of projects.