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Lynas signs contract with US Department of Defence

Lynas signs contract with US Department of Defence

Photo by Bloomberg

27th July 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Rare earths miner Lynas has inked a contract with the US Department of Defence (DoD) for Phase 1 work on a US-based heavy rare earths separation facility.

The DoD in April this year told Lynas of its intent to award a Phase 1 contract for the separation facility, with the funding to allow Lynas and its joint venture partner Blue Line to complete detailed planning and design work for the construction of the heavy rare earths separation facility, which could lead to further contracts for commercial scale production and operation of a US heavy rare earth separation facility.

Lynas said on Monday that this work would be completed in the 2021 financial year.

“We are very pleased to have singed a contract with the DoD for this Phase 1 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,” said CEO and MD Amanda Lacaze.

The development of a heavy rare earths separation facility is a key initiative of the company’s 2025 growth plan and would provide an expanded production suite as well as the only source of separated heavy rare earths outside of China.

Edited by Creamer Media Reporter

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