Allied Nations Invest in Critical Minerals Supply Chains
Western governments have committed $8.5 billion to accelerate mining and processing projects through a landmark US-Australia framework.
The framework, signed on October 20th, targets antimony, rare earths, tungsten, and battery materials.
In addition, the Pentagon has launched a $1 billion stockpiling initiative for defense-critical metals such as cobalt, tantalum, and scandium.
This move follows China's expansion of export restrictions to twelve rare earth elements and refining technologies on October 9th.
The total investment in rebuilding critical minerals supply chains amounts to $11.5 billion.
The investments aim to accelerate mining and processing projects and reduce dependence on restricted exports.Author's summary: Allied nations invest $11.5B in critical minerals.
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