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Lynas expects funding news for U.S. rare earths plant by late February of next year

2019-11-28 14:22:03  【Print】
Australia's Lynas Corporation expects to make an announcement on how it will fund development of a new heavy rare earths processing facility in the United States by the end of February of next year, its chief executive said on Tuesday.

The United States has sought to shore up its supplies of rare earths products this year, as escalating trade tensions between it and China fueled concerns that the world's dominant producer could restrict supply.

Lynas in May signed a preliminary agreement to build out a heavy rare earths separation plant with privately held Blue Line in Texas, which is likely to be followed by a light rare earths separation facility there, Chief Executive Amanda Lacaze told investors at the company's annual general meeting in Sydney.

"We are in various different negotiations with respect to funding and offtake for that plant. We do expect to have more announcements on that sometime in the next two to three months," Lacaze said.

Lynas was part of an Australian trade delegation that visited Washington last week to promote closer ties between the two nations around minerals, she said.

Lacaze also said that mine life at its Mount Weld rare earths deposit, one of the biggest and richest in the world, could extend beyond 25 years. "It is open at depth and it is open laterally.Asian Metal Copyright Lynas was part of an Australian trade delegation that visited Washington last week to promote closer ties between the two nations around minerals, she said.Asian Metal Copyright So we expect that it will have significantly more life as we go forward."

.Asian Metal Copyright So we expect that it will have significantly more life as we go forward.Asian Metal Copyright