President Donald Trump and Australian Prime Minister Anthony Albanese inked an agreement on Monday that will pump billions of dollars into critical minerals projects.

The U.S. and Australia will together contribute $3 billion to the projects over the next six months. The total project pipeline is worth $8.5 billion, the governments said.

As part of the deal, the U.S. Department of Defense will also invest in a gallium refinery in Western Australia capable of producing 100 tons per year. Currently, the U.S. imports approximately 21 tons of gallium, which represents 100% of domestic consumption, according to the U.S. Geological Survey.

The move comes as China has restricted exports of certain minerals, including rare earth elements, that are vital to the production of electronics and el

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