- Write by:
-
Tuesday, July 28, 2020 - 12:06:23 PM
-
655 Visit
-
Print
Mining News Pro - Lynas Corporation has overcome a political hurdle in the United States to secure a contract for a rare earth facility in Texas.
This is key to Lynas’ 2025 growth plan as the facility will be the only source of separated heavy rare earths outside China.
Lynas will design and operate the separation facility, which will process heavy rare earths material sourced from its Mt Weld mine in Western Australia.
The Malaysian-headquartered company hit a roadblock earlier this year as the United States Government reconsidered its decision to contract Lynas for the facility amid the options of sourcing a domestic supply or supply from the country’s allies.
Upon winning the contract, Lynas chief executive and managing director Amanda Lacaze said the company was very pleased to have signed the contract with the Department of Defense (DoD) for this phase one work.
“Heavy rare earths are essential for the high performance magnets used in electric motors, and Lynas has the feedstock, intellectual property and track record to deliver a heavy rare earths facility in a timely and low risk manner,” she said.
The DoD will fund the phase one project to allow Lynas and local rare earths processor Blue Line to complete a market and strategy study as well as design work for the facility’s construction.
Lynas expects to complete this work in the 2021 financial year.
Australia’s Minister for Resources, Water and Northern Australia Keith Pitt said the contract was a great result for Lynas and the country’s critical minerals sector.
“Our current environment has shone a spotlight on concentrated global supply chains, particularly for critical minerals,” he said.
“This milestone brings us a step closer to a secure supply chain of rare earth materials, integral to defence and industrial bases for both our countries.”
Short Link:
https://www.miningnews.ir/En/News/574436
Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into ...
Commodities usually rally when central banks cut interest rates, bolstering the case for going long raw materials in the ...
The United States is looking to Africa to help loosen a Chinese stranglehold on battery metals and reduce Russia’s ...
Cleveland-Cliffs Inc. chief executive officer Lourenco Goncalves said he’d consider another bid — with union support — ...
Albemarle, the world’s largest producer of lithium for electric vehicle batteries, said on Wednesday that it will hold ...
Australia will provide up to A$840 million ($550 million) for the first combined rare earths mine and refinery in the ...
Vista Gold has released an updated feasibility study for its Mt Todd gold project in Northern Territory, Australia, to ...
The Metals Company (Nasdaq: TMC) shares soared on Wednesday after Congresswoman Carol Miller (R-WV) and Congressman John ...
Gold snapped nine days of record-breaking gains as underlying US inflation topped forecasts for a second month in ...
No comments have been posted yet ...