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Australia and Canada Sign $1.2B Minerals Pact to Diversify Supply Chains

3/5/2026

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Summary

Story summary

On March 5, 2026, Australia and Canada signed minerals agreements during Canadian Prime Minister Mark Carney's visit, outlining an A$1.2 billion stockpile plan.
The agreements aim to diversify supply chains away from China.
Together, Australia and Canada account for about one third of global lithium and uranium, and over 40% of iron ore.
Carney urged powers to collaborate to deepen defence, maritime security, trade, and AI cooperation.

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Story summary

On March 5, 2026, Australia and Canada signed minerals agreements during Canadian Prime Minister Mark Carney's visit, outlining an A$1.2 billion stockpile plan.
The agreements aim to diversify supply chains away from China.
Together, Australia and Canada account for about one third of global lithium and uranium, and over 40% of iron ore.
Carney urged powers to collaborate to deepen defence, maritime security, trade, and AI cooperation.