The U.S. government has offered to buy equity in Australian critical minerals companies as part of efforts to expand supply chains and reduce dependence on China. The initiative follows China’s export restrictions on rare earths and related permanent magnets in response to U.S. tariffs.

Critical minerals such as lithium, cobalt, and rare earths are vital to clean energy, semiconductors, and defense industries. Andrew Worland, CEO of International Graphite, said officials encouraged companies to submit proposals for funding, with options including debt, equity, and offtake agreements. Projects are being prepared for 2027.