Australian critical minerals companies head for Washington

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MELBOURNE (Reuters) -More than 20 Australian critical minerals companies including Trafigura unit Nyrstar will head to the U.S. next week to explore areas for collaboration, four sources familiar with the matter told Reuters.

The delegation led by the Australian Trade and Investment Commission (Austrade) will attend meetings in New York and Washington with senior officials from the Trump administration.

Although sources described the trip as fairly routine, the companies will arrive after Australian Prime Minister Anthony Albanese and President Donald Trump last week spoke about opportunities for critical minerals companies in both countries to co-operate more closely.

Australia has requested a meeting with Trump and Albanese will travel to the United Nations General Assembly in New York later this month although no meetings have been announced.

Australia is striving to position itself as a key supplier to Western allies as they build an alternative supply chain to China while the U.S. is readying to deploy funding to build out its battery and defence industries.

Reuters reported last month that the Trump administration was considering a plan to reallocate at least $2 billion from the CHIPS Act, which supports semiconductor research and chip factory construction, to fund critical minerals projects.

Nyrstar last month won Australian government support to assess the possibility of producing four critical minerals across two aging smelters, including antimony which is used in ammunition and for which China has limited exports. But Nyrstar would need more funds to bring that plan into action.

The meetings were described as a chance to better understand the Trump administration’s priorities as well as meet administration officials and build relationships, with some attendees angling for funding opportunities.

Among other miners going are Australia’s top lithium producer Pilbara Minerals which largely supplies lithium to China and South Korea, International Graphite, which is building out processing capabilities from its Western Australian graphite mine, and Cobalt Blue, which is developing its Broken Hill cobalt project in New South Wales.

Spokespeople from Pilbara Minerals, International Graphite and Cobalt Blue confirmed that company representatives would be in attendance next week.

The delegation will not include Australia’s Trade Minister Don Farrell or Resources Minister Madeleine King. The ministers’ offices did not immediately respond to requests for comment on prospects for major announcements.

Australia already has a critical minerals partnership with the United States and under legislation passed in late 2023, Australian mineral deposits qualify as domestic supply for U.S. defence procurement.

(Reporting by Melanie Burton; Editing by Lincoln Feast.)