A deal to give the United States more access to Australian critical minerals could be on the agenda ahead of Prime Minister Anthony Albanese's trip to the White House.
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The government has been discussing a potential agreement with miners and US officials, in the hopes of countering China's dominance in the production of metals like lithium, cobalt and nickel.
Critical minerals are crucial for the production of clean energy technologies like batteries and solar panels, but also high-tech military products including fighter jets.
China currently produces the vast majority of the world's critical minerals, prompting the Trump administration to seek deals with friendly countries.
Trade Minister Don Farrell said Australia is keen to strike an agreement with the US, and had been discussing the issue since "day one" of Donald Trump's presidency.
"We've got vast resources of the critical minerals that the world is going to need to decarbonise... what we don't always have, of course, is the financial resources to extract those minerals," he told Sky News on Sunday.
But Senator Farrell said he wouldn't put a timeline on when such a deal with the US would be struck.
The Trade Minister also stressed the importance of securing critical minerals pacts with other countries and said he was in talks with Japan, South Korea and the European Union.
"We've seen in the past what happens when you put all of your eggs in the one basket," he said, likely referencing Beijing's trade bans on products like wine and barley, which were introduced in 2020 and devastated industries which predominantly traded with China.
Critical minerals trade is widely expected to be discussed when Mr Albanese sits down with Mr Trump at the White House on October 20.
Senator Farrell had lengthy discussions with US trade representative Jamieson Greer about access to Australia's vast stockpiles in September.
Mr Albanese's mission has been hotly anticipated following a series of delays in securing an audience with Mr Trump.
The prime minister is now taking a week of leave before his trip to Washington DC, and Defence Minister Richard Marles is serving as acting prime minister during that time.
Opposition frontbencher Julian Leeser said more clarity was needed around the government's critical minerals negotiations.
"Why haven't they made the plan public?" he asked on Sky News.
Mr Leeser said Labor needed to be clear about what critical minerals would be prioritised, and suggested the trade of uranium should be given greater importance.
Australian Associated Press
