President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical-minerals deal at the White House on Monday as the U.S. eyes the continent’s rich rare-earth resources at a time when China is imposing tougher rules on exporting its own critical minerals abroad.

The two leaders described the agreement as an $8.5 billion deal between the allies. Trump said it had been negotiated over several months.

“In about a year from now we’ll have so much critical mineral and rare earth that you won’t know what to do with them,” said Trump, a Republican, boasting about the deal. “They’ll be worth $2.”

Albanese added that the agreement takes the U.S.-Australia relationship “to the next level.”

Earlier this month, Beijing announced that it will require foreign companies to get approval from the Chinese government to export magnets containing even trace amounts of rare-earth materials that originated from China or were produced with Chinese technology. The Trump administration says this gives China broad power over the global economy by controlling the tech supply chain.

“Australia is really, really going to be helpful in the effort to take the global economy and make it less risky, less exposed to the kind of rare earth extortion that we’re seeing from the Chinese,” Kevin Hassett, the director of the White House’s National Economic Council, told reporters Monday morning ahead of Trump’s meeting with Albanese.

Hassett noted that Australia has one of the best mining economies in the world, while praising its refiners and its abundance of rare earth resources. Among the Australian officials accompanying Albanese are ministers overseeing resources and industry and science, and Australia has dozens of critical minerals sought by the U.S. because they are needed in everything from fighter jets and electric vehicles to laptops and phones.

The agreement could have an immediate impact on rare earth supplies in the United States if American companies can secure some of what Australian mines are already producing, although it will take years — if not decades — to develop enough of a supply of rare earths outside of China to reduce its dominance.

Pini Althaus, who founded USA Rare Earth back in 2019 and is now working to develop new mines in Kazakhstan and Uzbekistan as CEO of Cove Capital, said it will be crucial that the contracts to buy materials from Australian mines include price floors, similar to what the U.S. government promised MP Materials this summer, to protect against China manipulating prices.

For decades, China has used the tactic of dumping excess critical minerals onto the market to drive prices down to force mining companies in the rest of the world out of business to eliminate any competition.

“I think taking away that arrow in the quiver of China to manipulate pricing is an absolute crucial first step in Australia and the West being able to develop critical minerals projects to meet our supply chain demands,” said Althaus, who has spent nearly a quarter-century in the mining business.

The agreement underscores how the U.S. is using its global allies to counter China, especially as it weaponizes its traditional dominance in rare earth materials. Top Trump officials have used the tactics from Beijing as a rallying cry for the U.S. and its allies to work together to try to minimize China’s influence.

A Virginia man pleaded guilty Friday in a federal case that accused him of stockpiling the largest number of finished explosives in FBI history and of using then-President Joe Biden’s photo for target practice.

Brad Spafford pleaded guilty in federal court in Norfolk to possession of an unregistered short barrel rifle and possession of an unregistered destructive device, according to court documents. Each count carries a maximum sentence of 10 years in prison. His sentencing is scheduled for December.

Federal authorities said they seized about 150 pipe bombs and other homemade devices last fall at Spafford’s home in Isle of Wight County, which is northwest of Norfolk.

The investigation into Spafford began in 2023 when an informant told authorities that Spafford was stockpiling weapons and ammunition, according to court documents. The informant, a friend and member of law enforcement, told authorities that Spafford was using pictures of then-President Joe Biden for target practice and that “he believed political assassinations should be brought back,” prosecutors wrote.

Two weeks after the assassination attempt of then-presidential candidate Donald Trump in 2024, Spafford told the informant, “bro I hope the shooter doesn’t miss Kamala,” according to court documents. Former Vice President Kamala Harris had recently announced she was running for president. On around the same day, Spafford told the informant that he was pursuing a sniper qualification at the local gun range, court records stated.

Spafford stored a highly unstable explosive material in a garage freezer next to “Hot Pockets and frozen corn on the cob,” according to court documents. Investigators also said they found explosive devices in an unsecured backpack labeled “#NoLivesMatter.”

Spafford has remained in jail since his arrest last December. U.S. District Judge Arenda L. Wright Allen ruled against his release last January, writing that Spafford has “shown the capacity for extreme danger.” She also noted that Spafford lost three fingers in an accident involving homemade explosives in 2021.

Spafford had initially pleaded not guilty to the charges in January. Defense attorneys had argued at the time that Spafford, who is married and a father of two young daughters, works a steady job as a machinist and has no criminal record.

Defense attorney Jeffrey Swartz said at Spafford’s January detention hearing that investigators had gathered information on him since January 2023, during which Spafford never threatened anyone.

“And what has he done during those two years?” Swartz said. “He purchased a home. He’s raised his children. He’s in a great marriage. He has a fantastic job, and those things all still exist for him.”

Investigators, however, said they had limited knowledge of the homemade bombs until an informant visited Spafford’s home, federal prosecutors wrote in a filing.

“But once the defendant stated on a recorded wire that he had an unstable primary explosive in the freezer in October 2024, the government moved swiftly,” prosecutors wrote.

The International Criminal Court has been targeted by a “sophisticated” cyberattack and is taking measures to limit any damage, the global tribunal announced Monday.

The ICC, which also was hit by a cyberattack in 2023, said the latest incident had been contained but did not elaborate further on the impact or possible motive.

“A Court-wide impact analysis is being carried out, and steps are already being taken to mitigate any effects of the incident,” the court said in a statement.

The incident happened in the same week that The Hague hosted a summit of 32 NATO leaders at a conference center near the court amid tight security including measures to guard against cyberattacks.

The court declined to say whether any confidential information had been compromised.

The ICC has a number of high-profile investigations and preliminary inquiries underway in nations around the world and has in the past been the target of espionage.

In 2022, a Dutch intelligence agency said it had foiled a plot by a Russian spy using a false Brazilian identity to work as an intern at the court, which is investigating allegations of Russian war crimes in Ukraine and has issued a war crimes arrest warrant for President Vladimir Putin, accusing him of personal responsibility for the abductions of children from Ukraine.

Arrest warrants for Israeli Prime Minister Benjamin Netanyahu and his former defense minister, Yoav Gallant, over Israel’s campaign against Hamas in Gaza have also drawn ire. U.S. President Donald Trump slapped sanctions on its chief prosecutor, Karim Khan, in February and earlier this month also sanctioned four judges at the court.

The court is still feeling the effects of the last cyberattack, with wifi still not completely restored to its purpose-built headquarters.