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Lynas Rare Earths ADR LYSDY

Lynas Rare Earths Limited is an Australia-based company, which is engaged in integrated mining of rare earth minerals in Australia and mineral processing in Australia and Malaysia, and development of rare earth deposits. The Company’s operations include Mt Weld, Lynas Malaysia, Kalgoorlie and Lynas USA. It focuses on developing the Mt Weld resource, which includes ongoing exploration, production of mixed rare earths concentrates, and an expansion project to increase concentrate feedstock production to support 12,000 tons per annum of finished NdPr oxide. The Lynas Malaysia advanced materials plant is located on a 100-hectare site in the Gebeng Industrial Estate, a purpose-built petrochemical industry zone near Kuantan, on the east coast of Malaysia. Its rare earths processing facility in Kalgoorlie undertakes value-added processing of rare earths. The Company's subsidiaries include Lynas Malaysia Sdn Bhd, Lynas Africa Ltd, Lynas Kalgoorlie Pty Ltd and Lynas USA LLC.


OTCPK:LYSDY - Post by User

Post by 123buyholdhopeon Jan 22, 2021 1:18pm
308 Views
Post# 32360453

LYSCF - US REE Moves

LYSCF - US REE MovesLynas signs deal with U.S. for light rare earths separation plant

Reuters Staff
 
(Reuters) - Lynas Rare Earths Ltd said on Friday it had signed an agreement to build a commercial light rare earths separation plant in Texas, at a time Washington is pushing to secure domestic supply of essential minerals that China currently dominates.

Production of rare earth minerals, used to make military equipment and electronics, received a push in the U.S. after the trade war with China fueled worries that Beijing may use its dominance to restrict supply.

The deal comes after Lynas secured initial U.S. Department of Defense funding for a heavy rare earths separation facility in Texas last April, which it is developing with joint venture partner Blue Line.

“This agreement is consistent with the U.S. Government’s commitment to rebuild the domestic industrial base, while working effectively with partner nations,” Lynas CEO and Managing Director Amanda Lacaze said.

The Texas plant would house processing facilities for both heavy rare and light rare earths, the company added.

Lynas, the largest producer of rare earths outside China, said the plant is expected to produce about 5,000 tonnes per annum of the minerals.

While detailed costs are still being finalized, the company currently expects the Department of Defense funding for the plant to be capped at around $30 million. Lynas is expected to contribute by about the same amount.

GLTA - https://twitter.com/EarthsRare


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