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China has called on resource-rich nations, including the United States and Australia, to play what it described as a "proactive role" in ensuring the stability of global critical mineral supply chains.
The statement, issued Tuesday by Foreign Ministry spokesperson Guo Jiakun, came shortly after Washington and Canberra signed an $8.5 billion rare earth and critical minerals deal aimed at reducing global dependence on Chinese exports.
"The formation of industrial and supply chains is the result of market and corporate choices," Guo told reporters. "Countries rich in critical minerals should act responsibly to safeguard the security and stability of global supply systems and maintain normal trade relations."
The U.S.–Australia agreement, signed by President Donald Trump and Prime Minister Anthony Albanese at the White House, commits each nation to invest $1 billion into mining and processing projects. The deal also establishes a price floor for critical minerals, a move seen as a bid to protect Western producers from market volatility.
The partnership follows Beijing's decision earlier this month to expand export controls on rare earths and related technologies, citing concerns over misuse in defense applications. Western manufacturers, especially in the automotive and semiconductor industries, have warned that these restrictions could disrupt production lines dependent on Chinese supplies
Rare earth elements are essential for products ranging from electric vehicles to fighter jets, and China currently accounts for about 60% of global output. The U.S. and its allies view diversification of the supply chain as a national security priority amid growing trade frictions.
In response to the deal, shares of Australian mining firms posted mixed results. Lynas Rare Earths dropped 7.6% after early gains, while Pilbara Minerals rose 2.6%. Smaller players like Latrobe Magnesium surged more than 15%, buoyed by investor optimism over government-backed demand.
The U.S. Export-Import Bank also announced over $2.2 billion in financing letters to support seven Australian mining ventures, including Arafura Rare Earths and Northern Minerals. Officials said the move is part of a broader push to reindustrialize America's tech sector and counter Beijing's dominance in the global minerals market.
The statement, issued Tuesday by Foreign Ministry spokesperson Guo Jiakun, came shortly after Washington and Canberra signed an $8.5 billion rare earth and critical minerals deal aimed at reducing global dependence on Chinese exports.
"The formation of industrial and supply chains is the result of market and corporate choices," Guo told reporters. "Countries rich in critical minerals should act responsibly to safeguard the security and stability of global supply systems and maintain normal trade relations."
The U.S.–Australia agreement, signed by President Donald Trump and Prime Minister Anthony Albanese at the White House, commits each nation to invest $1 billion into mining and processing projects. The deal also establishes a price floor for critical minerals, a move seen as a bid to protect Western producers from market volatility.
The partnership follows Beijing's decision earlier this month to expand export controls on rare earths and related technologies, citing concerns over misuse in defense applications. Western manufacturers, especially in the automotive and semiconductor industries, have warned that these restrictions could disrupt production lines dependent on Chinese supplies
Rare earth elements are essential for products ranging from electric vehicles to fighter jets, and China currently accounts for about 60% of global output. The U.S. and its allies view diversification of the supply chain as a national security priority amid growing trade frictions.
In response to the deal, shares of Australian mining firms posted mixed results. Lynas Rare Earths dropped 7.6% after early gains, while Pilbara Minerals rose 2.6%. Smaller players like Latrobe Magnesium surged more than 15%, buoyed by investor optimism over government-backed demand.
The U.S. Export-Import Bank also announced over $2.2 billion in financing letters to support seven Australian mining ventures, including Arafura Rare Earths and Northern Minerals. Officials said the move is part of a broader push to reindustrialize America's tech sector and counter Beijing's dominance in the global minerals market.
