Australia’s critical miners and rare earths operators say backing for the sector from the US gov- ernment shows how significant the local industry is at a time when an urgent increase in pro- duction is needed.

US Commerce Secretary Gina Raimondo said the Biden admin- istration would direct its export financing arms to support Aus- tralian critical mineral projects in the hope of boosting the supply of materials in a sector dominated by China.

Ms Raimondo made the re- marks after meeting with Trade Minister Dan Tehan and rare earth mining executives in Washington. Mr Tehan also met with the Export Import Bank and the Development Finance Cor- poration, two agencies similar to Export Finance Australia. David Woodall, managing director of ASX-listed Australian Strategic Materials, was with Mr Tehan’s delegation in Washington.

Read Adam Creighton’s article in The Australian