Lynas gets US$120mil Pentagon contract for US rare earths project

Lynas mines rare earths in Western Australia and ships the material to Gebeng in Malaysia (pic) where it produces rare earth oxides.

Australia's Lynas Rare Earths has signed a US$120 million follow-on contract with the U.S. Department of Defense to build a commercial heavy rare earths separation facility in Texas, the firm said on Tuesday.

Lynas is the world's only processor of rare earths outside China, and the contract with its U.S. subsidiary builds on 'Phase 1' funding for a facility announced in July 2020.