The Australia US Critical Minerals Deal is Done, and these 6 ASX stocks are set to share in US$2.2bn in US financing!

The Australia US Critical Minerals Deal is officially a thing. The countries have signed an agreement to speed up investment in critical materials projects. The purpose is to boost supplies of those materials to counter China’s dominance of the market.

The governments will spend more than US$3bn together in the next 3 months, and the US Department of War will invest in the construction of a 100 metric tonne-per-year gallium refinery. And…the Export-Import Bank of the United States (EXIM) has issued seven Letters of Intent for more than US$2.2bn in financing.

While we don’t know yet how it’ll be divided up amongst the recipients, it is all but a done deal with a formal signing ceremony held in Washington overnight.

‘Each of these projects reflects our commitment to enhancing supply chain resilience, revitalising domestic manufacturing, and creating high-quality U.S. jobs,’ Chairman John Jovanonic declared

‘By fostering collaboration between American and Australian industry, EXIM is helping deliver on the President’s vision to secure the critical resources that power America’s economy and national security.’

While one particular recipient is a private company (Graphinex), the other 6 are ASX-listed companies. Let’s look at the lucky companies.

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6 ASX stocks that are set to share in US$2.2bn from the Australia US Critical Minerals Deal!

Arafura Rare Earths (ASX:ARU)

Arafura’s flagship project is the Nolans Project in the Northern Territory. It is an integrated “mine‑to‑oxide” rare‑earths project focused on light rare earths, especially NdPr. It has already received government funding, including A$200m from Australia’s National Reconstruction Fund Corporation. All permits have been received, and it is construction-ready. While shipping to the US may not be easy, EXIM can clearly see it is a high-quality project that will be in a position to be ramped up soon.

Northern Minerals (ASX:NTU)

Northern Minerals’ main asset is the Browns Range Project in the East Kimberley region, Western Australia. It is a heavy rare earth (HRE) project focusing on dysprosium (Dy) & terbium (Tb). Dy/Tb is key for high‑temperature magnets in EVs, wind turbines, and defence. Moreover, it is rare in the West even by rare earth standards – China dominates heavy rare earths even more than ‘light’ rare earths.

A September 2025 DFS found a base case NPV of A$187m and a bull case of $705m. It will produce approximately 17,500 tonnes per annum of xenotime concentrate at 25% TREO, containing about 4,350 tonnes per annum of total rare earth oxides (TREO).

La Trobe Magnesium

Latrobe Magnesium is developing a unique process to produce magnesium metal from magnesium‑rich resources (fly ash feedstock) in Victoria, Australia. This project is planned to ramp up slowly with a 1,000tpa demonstration plant to start with, then a 10,000tpa commercial plant and a 100,000tpa mega plant later on. Currently, Latrobe is preparing to commission the demonstration plant.

Magnesium is a “critical mineral” for light‑weighting (automotive, aerospace) and clean technology. Thus, diversifying supply chains away from dominant producers in China is important.

VHM

Also located in Victoria, this 199Mt Proved and Probable Ore Reserve Project will supply rare earth elements, zircon and titanium minerals. A Mining License was granted in April, and secondary approvals, licenses and permits are being pursued. The project has a pre-tax NPV of $1.64bn and an IRR of 65%.

It ought to be noted that VHM’s project appears less publicised than some of the others and that it is a feedstock play, so will depend on downstream offtake and processing capacity. Nonetheless, VHM’s supply of heavy rare earth feedstock complements downstream processing and helps build supply‑chain resilience.

RZ Resources (ASX:RRZ)

RZ Resources’ flagship is the Copi Project in southwestern New South Wales. It is designed to produce rare earths (both light AND heavy), titanium feedstocks (rutile/leucoxene), premium zircon products and mineral sands. The company also has the only major processing plant of its type on Australia’s east coast. The operating model is to employ wet dredge mining techniques due to the abundance of highly saline water. Ore will be extracted in a pnd, then pumped to a floating concentrator. This minimises disturbance to the land and quicker rehabilitation.

RZ has submitted its Environmental Impact Statement (EIS) for Copi and is progressing approval. It reckons a mine life of >20 years is possible.

Sunrise Energy Metals (ASX:SRL)

Have you ever heard of scandium? It is a less common but critical element for aluminium alloys in aerospace, EVs, hydrogen storage and other advanced applications. SRL is a company that purports to have the world’s largest and highest-grade scandium deposit with 23,554t Measured, Indicated and Inferred using a 300ppm cut-off.