The United States and Australia signed a key minerals agreement, and Trump said there would be too many rare earths and minerals at a loss

On October 21st, US President Trump and Australian Prime Minister Albanese signed an agreement on rare earths and critical minerals at the White House on Monday. Albanese called it a $8.50 billion "ready cooperation project". As part of the agreement, the two sides agreed to cut the approval process for mining, processing facilities and related operations in order to increase production of rare earths and critical minerals. "In about a year, we will have so many critical minerals and rare earths that you don't know what to do with them", Trump said. The White House said in a statement that the US and Australian governments plan to jointly invest more than $3 billion in critical mineral projects over the next six months, which have an estimated recoverable resource value of $53 billion. The White House has pointed out that the Pentagon will invest in the construction of a 100-ton gallium processing plant in Western Australia.