SYDNEY (Reuters) -The United States and Australia have extended financial support to several Australian companies as part of a wide-ranging critical minerals agreement signed on Monday with an aim of countering China’s hold over the industry.

Under the agreement signed by U.S. President Donald Trump and Australian Prime Minister Anthony Albanese, the two countries pledged to invest at least $1 billion each over the next six months in mining and processing projects and to set a price floor for critical minerals, a step long sought by Western miners.

The governments would also help advance a plan by U.S. aluminium producer Alcoa to build a gallium plant alongside its alumina refinery in Western Australia that could provide up to 10% of global gallium supply.

Gallium, a raw material used i

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