Australia and the United States committed more than $3.5 billion in backing for Australian critical minerals projects, up sharply from the minimum $2 billion combined financing target set under their October 2025 bilateral framework, Reuters reported on April 12. The support includes backing for a new rare earths facility, a major nickel project, a project to recover gallium used in semiconductors and defense equipment, and one of Australia's flagship rare earth mines and processing hubs.