Metallium (ASX:MTM) said it welcomes the signing of the Framework for Securing Supply of Critical Minerals and Rare Earths between US and Australia, according to a Tuesday filing with the Australian bourse.

The framework commits the two countries to mobilizing at least $1 billion in joint project financing, accelerating permitting, and supporting sustainable supply chains for critical minerals and rare earth elements, the filing said.

Metallium shares rose nearly 2% in afternoon trade Tuesday.