MELBOURNE - Australia has won the backing of the United States for development of its critical minerals industry after the two countries reached an agreement to coordinate policies and investment to support the sector’s growth.
“The climate, critical minerals and clean energy compact is an ambitious agreement,” Australian Prime Minister Anthony Albanese told Parliament on Monday. That is set to boost investment back towards Australian companies, supported by regulation like the landmark, which has reinvigorated global renewable energy supply chains since August 2022.
The compact will establish climate, clean energy and a shared energy industrial base as a central pillar of the Australia-United States Alliance, they said.
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