Australia eyes floor prices for critical minerals before Trump meeting

[Outline map designed with the national flag of Australia]
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Australia is currently considering mandated floor prices for critical minerals and investing in new rare earth projects as a part of the deal with the U.S., Australia's _The Age_ newspaper reported on Sunday.

The government has begun talks with miners about contributing to a A$1.2 billion ($777 million) "critical minerals strategic reserve" with funding mechanisms, price floor guarantees for producers, and potential government-backed loans to catalyze rare earth mining and processing projects, the newspaper added, citing a leaked departmental brief circulated in recent weeks.

The country mulls a pact with the U.S. before Prime Minister Anthony Albanese is set to meet with President Donald Trump in Washington on October 20, 2025.

The proposed agreement comes amid rising tensions over China’s dominance in rare earths and Trump’s threat of sweeping tariffs in response to Beijing’s export controls.

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