Potential material change to Defence Production Act

Last weekend the US and AUS governments made a joint announcement which could have material impact to DROs future revenue. Specifically President Biden floated the idea that Australia would be added as a 'domestic source' for the purposes of the DPA.

Australia-United States Joint Leaders’ Statement - An Alliance for our Times | The White House

The President plans to ask the United States Congress to add Australia as a “domestic source” within the meaning of Title III of the Defense Production Act. Doing so would streamline technological and industrial base collaboration, accelerate and strengthen AUKUS implementation, and build new opportunities for United States investment in the production and purchase of Australian critical minerals, critical technologies, and other strategic sectors.

Given this is subject to Congress approval I wouldn't start trading off this and even if Congress agree to it, it would be unclear when, if ever, this would have a material impact on DRO sales. However, investors should be aware of and consider this potential tail wind in the coming months.
To understand what kind of impact this could have we need to understand the DPS specifically what Title III means.

THE DEFENSE PRODUCTION ACT (fema.gov)Now .

Sec. 301. (a) Expediting production and deliveries or services
(1) Authorized Activities
The President has the power or ability to give permission for a guaranteeing agency (an organization that provides guarantees for loans) to offer loan guarantees to private institutions (such as banks or other financial institutions).
Sec. 302. Loans to Private Business Enterprises.
(a) Loan authority
To reduce current or projected shortfalls of industrial resources, critical technology items, or materials essential for the national defense, the President may make provision for loans to private business enterprises (including nonprofit research corporations and providers of critical infrastructure) for the creation, maintenance, expansion, protection, or restoration of capacity, the development of technological processes, or the production of essential materials, including the exploration, development, and mining of strategic and critical metals and minerals.

Sec. 304. Defense Production Act Fund.(c) Use of Fund
The Fund shall be available to carry out the provisions and purposes of this title [sections 4531 to 4534 of 50 U.S.C.], subject to the limitations set forth in this Act [sections 4501 to 4568 of 50 U.S.C.] and in appropriations Acts.

We can speculate how this might play out, but having DRO in the portfolio certainly feels like a good move however, the mining section may prove to benefit more so and immediately from such a change particularly with the provision of minerals that the US is currently more reliant on China for.