Very interesting update from AFR - Australian Financial Review: see the full story on their website under title, as follows:
US agrees to fund Australian critical minerals projects
US Commerce Secretary Gina Raimondo has committed to help finance Australian critical minerals projects through America’s export financing arms, as President Joe Biden invokes Cold War powers to boost the domestic supply of minerals crucial for defence equipment and electric vehicles.
Australia in pole position
According to the International Monetary Fund, Australia is in pole position to benefit from a sixfold increase in demand for critical minerals, worth $US12.9 trillion, over the next two decades.
Ms Raimondo said the US and Australia stood side by side against China’s economic coercion and human rights abuses.
“China’s anti-competitive coercion, there is no place for that. And we will stand with our allies against that, whether it is unfair practices as it relates to trade, which undermined the stability of our industrial base and our workers, or whether it is standing up against the human rights abuses, we’ll stand strong with our allies to do that,” she said.
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Does this mean they have essentially provided an open cheque book to Australia to make it happen?
Exciting times!
DYOR, GLTA(patient)H
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