Australia, US to spend billions on mining, defense projects, White House says as leaders meet

WASHINGTON, Oct 20 (Reuters) - Australia and the United States will spend billions of dollars in coming years on critical mining projects, defense systems and other investments in a deal between the two nation's leaders signed on Monday, the White House said.

Under the agreement, both countries will invest more than $3 billion on critical mineral projects in the next six months, while the Pentagon will also invest in a Gallium refinery in Australia, the White House said in a fact sheet.

Australia will also boost its overall investments in the United States by nearly $1 trillion, totaling $1.44 trillion by 2035, it said.