Lynas is the only major miner outside China of the rare earth elements, metals that are crucial in the production of computers and mobile phones. It mines raw materials in Western Australia which are sent to its Malaysian plant for processing. (Reuters filepic shows Lynas' processing plan in Gebeng.
BENGALURU: Rare earths producer Lynas Corp said on Tuesday it plans on spending A$500 million ($345.50 million) by 2025 to boost production and establish an initial processing facility in Western Australia, among others.
Lynas, the world's only major producer of rare earths outside China, said it also plans to invest in increased processing facility in Malaysia.
Lynas Corporation plans to invest in increased processing capacity in Gebeng and also plans to develop a second processing site close to the US market for heavy rare earth separation.
The move comes as the United States, which is highly reliant on the world's biggest producer China for rare earths, is prioritising the sourcing of its own strategic minerals used in everything from consumer electronics to military equipment. - Reuters
Below is the statement issued by Lynas and posted on its website:
Lynas Corporation Limited, an Australian Corporation and Blue Line Corporation, a Texas Corporation, are pleased to announce the signing of an MOU fora joint venture to develop Rare Earths separation capacity in the United States.
Lynas is the largest producer of Rare Earth materials outside of China and has captured a significant percentage of Rare Earth materials produced world-wide today.
Lynas has expertise in extraction, separation and mining at its mine in Western Australia andseparation facilities in Malaysia.Blue Line Corporation isaleading United States processorof Rare Earth products.
Rare Earths separation capacity has been absent from the United States for several years, and the Lynas / Blue Line joint ventureaims to fill a key gap in the United States supply chain. Rare Earths are essential inputs to high technology, high growth industriesin the digital age.
The Lynas/Blue Line joint venture (JV) will help ensure that U.S. companies have continued access to Rare Earth products by providing a U.S. based source.
The JV would be the only large-scale producer of separated medium and heavy Rare Earth products in the world, outside of China.
Key uses of Rare Earths materials include permanent magnets,catalytic convertors, catalysts, batteries, electronics, polishing powders, and water treatment chemicals.
Lynas and Blue Line will work together exclusively over the next year on the proposed development of a Rare Earths separation facility at the Blue Line site in Hondo, Texas.
Initially,the JV will focus on Heavy Rare Earths separation (including Dysprosium and Terbium), however,it may also include Light Rare Earths separation (including Neodymium, Praseodymium and Lanthanum).The JV will be majority owned by Lynas.
Amanda Lacaze, CEO and Managing Director ofLynas Corporation commented: “This is an exciting opportunity to develop local separation capacity forour customers in the United States and to close a critical supply chain gap for United States manufacturers.
"We already have an excellent commercial partnership with Blue Line serving key North American customers and we are lookingforward to working closely with Blue Lineover the next 12 monthsas we develop this joint venture.”
Jon Blumenthal, President and CEO of Blue Line Corporation stated: “We have followed the impressive progress of Lynas as it has grown to become the largest producer of separated Light Rare Earth materials outside of China. We are looking forward to working with Lynas to provide a secure source of Rare Earth materials to both U.S. and international markets and using our technical expertise to produce raw materials for uses in green and other high-tech industries.”
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