Critical Minerals Deal Boosts ASX 200 to New Highs
The ASX 200 set a new intraday and closing high, driven by a US-Australian critical minerals deal that sent materials stocks soaring.
The market gained 0.7% to close at 9094.7 points, with the materials sector leading the charge. The ASX 200 reached as high as 9115 points just after midday, holding onto most of those gains.
The US-Australia critical minerals deal involves creating a formal supply chain framework around critical minerals and rare earths, focusing on defence and security applications.
The deal includes a commitment from the US and Australia to invest at least $1 billion each towards an $8 billion goal.
Author's summary: ASX 200 hits new highs on US-Australia minerals deal.
- ASX 200 sets new intraday and closing high
- Materials sector drives market gains
- US-Australia critical minerals deal worth $8 billion