We’ve received this fact sheet of the “initial pipeline” of the US-Australia critical minerals and rare earths framework:

The US AU Critical Minerals Framework is being supported by immediate investments and an extensive pipeline of critical minerals projects in Australia, worth up to $USD 8.5 billion, with a substantial number of additional projects under development.

Both governments are taking measures to provide at least $USD1 billion in financing to projects located in the United States and Australia within six months, which Australia will look to allocate to this pipeline and other prospective critical minerals projects.

Some of the acronyms used in the fact sheet:

EFA = Export Finance Australia

EXIM = Export–Import Bank of the United States

Joint investment at announcement:

Alcoa-Sojitz – Gallium Project WA

Government investment will develop a gallium plant located with an existing alumina refinery to produce gallium of more than 99.99% purity.

Gallium will then be further refined by Japanese midstream foundries for downstream specifications of U.S. gallium industries.

Gallium is essential to advanced technology applications, including advanced semiconductor wafers essential to AI applications, LEDs, and high-performance magnets.

Financials: Estimated resource value of up to $USD 500 million.

Albanese Government will invest up to $USD 200 million (equity).

US Government will also invest in equity.

Japan is funding Sojitz Corporation’s half of the project (Australia-US-Alcoa funding Alcoa’s half).

Joint prospective investments:

Arafura – Rare Earths Nolans Project Project NT

Project will predominantly produce NdPr (neodymium and praseodymium) and has future plans to produce SEG/Heavy rare earth oxides.

Neodymium and praseodymium are a key component in the creation of strong permanent magnets used in electric motors for vehicles, night vision, precision guided missiles, aircraft engines, and fibre optic cables.

As a result of this project, NdPr Oxide will be delivered to offtake partners globally as an oxide or metal for magnet making.

Financials: Estimated resource value of $35.9 billion.

The Albanese Government will invest $USD 100 million equity (in addition to existing $USD657 million investment).

The US Government is considering investing up to $USD 300 million, following further due diligence.

Northern Minerals – Heavy Rare Earths WA

Project will produce xenotime concentrate containing heavy rare earths Dysprosium and Terbium.

This project is among the highest-grade advanced rare earth projects globally for heavy rare earths (approximately 10% HRE).

Dysprosium and Terbium are essential for high-performance magnets used in electric vehicles, control surfaces in defence aerospace equipment, and other industrial purposes.

The Northern Minerals Project provides feedstock through a supply agreement with Iluka for processing at Eneabba facility.

Financials: Estimated resource value of ~$USD 385 million (provided by company).

The Albanese Government will provide a letter of support through Export Finance Australia (EFA) with a financial commitment pending further due diligence.

The US Government is providing support through an EXIM letter of interest for up to $USD 230 million.

RZ Resources – Light and heavy rare earths NSW, QLD

Project aims to produce a heavy mineral concentrate from the Copi Mine, with the mineral separation and processing plant producing high-grade titanium and zircon products.

Rare earths are used in electronics, magnets, night vision and precision guided missiles, among other uses; titanium is used in aerospace, medical, transport, and other applications; zircon is primarily used in ceramic applications.

Financials: Estimated resource value of $USD 1.4 billion.

The Albanese Government will provide a letter of support through EFA with a financial commitment pending further due diligence.

The US Government is proving support through an EXIM letter of interest for up to $USD 450 million.

JX Advanced metals (Japanese) $AUD 20 million.

VHM – Goschen Rare Earth and Mineral Sands VIC

Project aims to produce rare earth mineral concentrate and zircon-titania heavy mineral concentrate.

Financials: The US Government is proving support through an EXIM letter of interest for up to $USD 200 million.

The Australian Government provided a letter of support for up to $AUD 75 million through EFA.

Graphinex – Graphite mine and battery anode facility QLD

Project aims to take graphite from the mine (mining and concentrating raw graphite) through refined high-grade concentrate to a manufactured active anode material, including producing premium battery anode.

 The Esmerelda Graphite Project is the world’s third largest deposit and Australia’s largest deposit.

Financials: Estimated resource value of ~$AUD 1.8 billion (provided by company).

The Albanese Government will provide a letter of support through EFA with a financial commitment pending further due diligence.

The US Government is proving support through an EXIM letter of interest for up to $USD 860 million.

Then we get to the “potential investments” that both countries will make.

US potential investments:

La Trobe Magnesium Plant VIC

The project aims to produce magnesium metal, using a patented, sustainable process to produce magnesium from industrial waste. Magnesium alloys are used in aircraft components, weapon systems, and protective gear due to their strength and low weight.

Financials: Estimated resource value of $USD 1.4 billion.

The US Government is proving support through an EXIM letter of interest for up to $USD 122 million.

EFA will be named in EXIM’s letter of interest as jointly considering the project.

Sunrise Energy Metals – Scandium NSW

Feasibility study due for completion Oct 2025.

Among the largest and highest-grade scandium projects in the world. The site provides high-grade, shallow resource supporting decades of production, simple, low-cost mining. Scandium is used in alloys for aircraft, missile structures and hypersonic weapons and semiconductors.

Financials: The US Government is proving support through an EXIM letter of interest for up to $USD 67 million.

EFA will be named in EXIM’s letter of interest as jointly considering the project.

Australian potential investments:

Iluka – Eneabba Refinery WA

The project is looking to build on existing significant investments in the Iluka refinery to move up the value chain and support a metallisation plant at the site – providing an extraction to metals supply chain in rare earths.

The project aims to produce approximately 24 per cent of total global heavy rare earths supply.

Heavy rare earths are inputs to high-performance magnets used in electric vehicles, control surfaces in defence aerospace equipment, and other industrial purposes.

The Eneabba Refinery has a processing agreement with Northern Minerals to supply their facility. Iluka is also pursuing metallisation plants in Australia and the US

Financials: The Australian Government has provided $AUD1.75 billion in loans to support the development of the Eneabba rare earths separation plant in WA (approx. $USD1.07billion), and is further considering support options for the metallisation plant.

Nyrstar – Antimony SA, TAS

Nyrstar seeks to recover antimony from Port Pirie tailings and produce metals. The project would be the only Western industrial-scale antimony refinery, uniquely licensed for hazardous concentrates. Antimony is used as ammunition primers, flame retardant materials and night vision goggles.

Financials: The Australian Government has provided a total of $AUD 135 million for Nyrstar’s two smelters ($AUD 57.5 million from the Commonwealth government, $AUD 55 million from South Australia, and $AUD 22.5 million from Tasmania), part of which will be used to fund the antimony pilot project.

The Albanese Government will provide a letter of support through EFA with a financial commitment pending further due diligence.

Astron – Donald Rare Earth and mineral sands project VIC

Project aims to initially produce heavy mineral concentrate and rare earth element concentrate, with later processing of heavy mineral concentrate to zircon and titanium products.

The project is one of the world’s largest zircon resources and rare-earth resources. Rare earths are used in electronics, magnets, night vision and precision guided missiles, among other uses; titanium is used in aerospace, medical, transport, and other applications; zircon is primarily used in ceramic applications.

Financials: The Albanese Government has provided a letter of support for up to $AUD 80 million through Export Finance Australia (EFA).