President Trump announces a new deal with Australia on critical and rare earth minerals:
"In about a year from now, we'll have so much critical mineral and rare earths that you won't know what to do with them—they'll be worth about 2 dollars." pic.twitter.com/7jqf0yvmsC
— Trump War Room (@TrumpWarRoom) October 20, 2025
President Trump and Australian Prime Minister Anthony Albanese signed a critical minerals deal at the White House on Monday, as the U.S. eyes the country’s rich rare earth resources while China is imposing tougher rules on exporting its own minerals abroad.
Mr. Trump said the deal, which will entail up to $8.5 billion in projects, had been negotiated over several months. Albanese said the deal would take the U.S.-Australia relationship “to the next level.”
“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,” Mr. Trump said, seated alongside Albanese. “They’ll be worth $2.”
https://www.cbsnews.com/news/trump-australia-critical-minerals-deal-rare-earths-china/