New pact between Washington and Canberra intends to curb China’s dominance, boost local supply chains and secure the future of rare earths.

A critical minerals framework deal valued at US$8.5 billion between the United States and Australia will allow American buyers to rely less on Chinese rare earth metals, but developing a secure, independent supply chain may take the US 10 to 20 years, according to analysts. “Deals like this go a long way – this is a good start,” said Pini Althaus, CEO of US-based rare earth metal investor and developer Cove Capital, adding that Beijing would likely grow “more concerned” as the deal matures and…

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