Rare earth producer Lynas Corp signs rare earth contract with DoD

On Monday, rare earth producer Lynas Corp stated, it has signed a contract with the U.S. Department of Defense to begin initial design preparations for its heavy rare earth separation facility in Texas.

The Pentagon is providing initial funding for this project.

The development forms part of a concerted effort by the United States to reduce its dependency on China for processing the strategic minerals that are widely used in making high-tech equipment ranging from mobile phones to missiles.

Lynas, the largest rare earth producer outside China, expects to finish the planning and design work for the facility in fiscal 2021.

The facility will process heavy rare earths sourced from Lynas’ flagship Mt Weld mine in Western Australia, which the company says will then become the “only source of separated Heavy Rare Earths outside China.”

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: