Australia and U.S. Forge Billion-Dollar Investment Pact

Australia and the United States have entered into a significant agreement involving billions in investments in critical mining and defense projects. This pact includes over $3 billion for mineral projects and the development of a Gallium refinery in Australia, with Australia's investment in the U.S. reaching $1.44 trillion by 2035.

Australia and the United States are set to embark on a monumental bilateral investment partnership, committing billions of dollars to critical sectors, including mining and defense systems. This significant accord was formalized in a new agreement between the leaders of the two nations, as reported by the White House.

According to a White House fact sheet, the two countries will jointly invest more than $3 billion into critical mineral projects over the next half-year. In addition, the Pentagon plans to fund a Gallium refinery in Australia, further strengthening defense-related collaborations.

In a substantial economic move, Australia will enhance its total investments in the U.S., aiming to reach $1.44 trillion by the year 2035, marking a nearly trillion-dollar increase in investment commitments.

(With inputs from agencies.)