❓WHAT HAPPENED: U.S. and Australian mining companies saw significant stock gains after President Donald J. Trump and Australian Prime Minister Anthony Albanese signed a minerals deal to expand America’s rare earth supply and reduce reliance on China.
👤WHO WAS INVOLVED: President Trump, Prime Minister Albanese, and U.S.-Australian mining companies.
📍WHEN & WHERE: Monday, October 20, 2025, at the White House.
💬KEY QUOTE: “In about a year from now, we’ll have so much critical minerals and rare earths that you won’t know what to do with them.” – President Donald Trump
🎯IMPACT: Following the deal, mining companies in the U.S. and Australia saw significant market gains.
U.S. and Australian mining companies saw significant stock gains on Tuesday after the two countries inked a major rare earth minerals deal. President Donald J. Trump and Australian Prime Minister Anthony Albanese signed the agreement at the White House on Monday, which aims to expand U.S. access to rare earth mineral supply chains outside of China—the world’s largest processor of the critical metals.
Following the deal, mining companies in the U.S. and Australia saw significant market gains. Arafura Rare Earths Ltd. jumped 29 percent after the U.S. Export-Import Bank considered $300 million in financing for its Nolans project. Other beneficiaries included VHM Ltd., Northern Minerals Ltd., and Alcoa Corp., which gained as much as 9.6 percent due to equity funding for its gallium joint venture with Sojitz. Analysts highlighted the deal’s role in accelerating the development of diversified critical mineral markets.
The agreement comes as Beijing says it will enact unprecedented export controls on rare earths and metals on December 1. Beijing’s announcement prompted President Trump to threaten the imposition of a 100 percent tariff on almost all Chinese imports unless they back down from the rare earth restrictions.
Under the new export rules, foreign exporters of products containing rare earths sourced from China must obtain licenses from Beijing’s commerce ministry. According to Chinese authorities, licenses for products with “military use” will largely be denied. The rules also bar Chinese firms from cooperating in specified fields and deny export licenses to foreign entities classified as dual-use or military end users.
“In about a year from now we’ll have so much critical mineral and rare earth that you won’t know what to do with them,” Trump said yesterday during the signing, with Albanese declaring: “We are great friends and we’re great allies.”
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