The Western Australian town of Wagerup and central hub of Alice Springs will be the first sites to see jointly US-Australian funded critical minerals facilities.

Australia will step up production of the much-needed resources following a pact signed by Anthony Albanese and Donald Trump in the White House on Tuesday morning.

Mr Albanese said the deal would see "an accelerated pipeline of priority projects" with a $1.5 billion investment from both countries to secure a supply chain.

It was possible, Mr Trump said, after fast-tracked negotiations over the past four of five months.

"And it was good timing, and we got it done just in time for the visit," the US president said.

"In about a year from now, we'll have so much critical mineral and rare earths, and you won't know what to do with

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