Australia has a fresh opportunity to supply the United States with critical minerals after recent changes to U.S. regulation aimed at cutting its dependence on China, an Australian government report showed on Tuesday.
U.S. President Donald Trump in July signed five memorandums authorizing U.S. Department of Defense funding to be directed to resources or technology "essential to the national defense" in a move aimed at shoring up domestic supplies.
That opens the door for the United States to offer project funding for rare earths, a group of 17 elements used in products ranging from lasers and military equipment to magnets found in consumer electronics, according to the report by Australia's Trade and Investment Commission.