Australia is anticipating that more allies will sign onto its strategic critical-minerals reserve initiative after it finalised a major agreement with the United States last month.

The trade minister, Don Farrell, said that since the bilateral deal was completed in October, he has observed heightened interest from the European Union, Japan, South Korea and Singapore in partnering on Australia’s reserve.

The deal between Canberra and Washington, signed on 20 October, sets out a framework through which Australia’s proposed strategic reserve will supply essential metals such as rare earths and lithium, while underpinning a project pipeline valued at up to US$8.5 billion aimed at bolstering mining and processing capacities.

The framework explicitly enshrines Australia’s “Critical Mineral Strategic Reserve” as a key policy tool.

Farrell told reporters that “having seen what we’ve done with the Americans, I think there’s increased interest from the Europeans, from the Japanese, from the South Koreans, Singaporeans, in what we’re doing in this space… particularly the Europeans don’t want to miss out.” He added that Australia is leveraging its abundant resource base and infrastructure to serve as a reliable alternative to China-dominated supply chains.

Australia’s push comes amid growing global concern over supply-chain vulnerabilities after China tightened restrictions on rare-earth exports in April.

Canberra’s strategy aims to transition from being primarily a raw-materials exporter to a processing and refining hub, thereby moving up the value chain and reinforcing economic resilience.

As part of its offer in U.S. negotiations, Australia introduced the concept of granting preferential access to its reserve in exchange for investment, offtake contracts and the establishment of a price floor to ensure competitiveness.

;Meanwhile, in Europe the same resources are becoming a diplomatic bargaining chip in ongoing negotiations for a free-trade agreement (FTA) between Australia and the European Union.

Australia is keen to accelerate access for its farmers and mineral-sector investors while avoiding disruption to European agricultural livelihoods.

Farrell characterised the upcoming period as pivotal, saying Australia must “find a common ground… where our farmers get greater access but don’t ultimately threaten the livelihoods of European farmers.” He emphasised that in a global environment marked by protectionism and geopolitical pressure, reaching mutually beneficial trade and mineral deals underscores the strength and legitimacy of Australia’s export-driven economy.

With investment commitments already underway, Australia’s ambition is clear: to position itself as a linchpin in allied supply chains for critical minerals and to secure broad partner participation in its strategic reserve scheme as part of a global effort to diversify away from single-source dependency.