The rare earths agreement between Anthony Albanese and Donald Trump has been hailed a "game-changer" by the boss of an Australian mining company that is part of the historic deal.

The prime minister and the US president yesterday signed the US–Australia Critical Minerals Framework, putting rare earths at the forefront of the Canberra-Washington relationship.

Australian company RZ Resources is among seven firms to receive financial backing from the US government agency Export-Import Bank of the United States under the deal.

Executive chairman David Fraser told Today the agreement struck in Washington will help create a multibillion-dollar Australian industry.

"It'll create tremendous jobs ... not just directly in terms of critical minerals and rare earths, but across the board i

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