Rare Earths: Lynas signs deal with US Dept of Defense (Its about time!)


" Lynas Rare Earths (LYC.AX) said on Tuesday it had signed an updated contract with the U.S. Department of Defense (DoD) for the construction of the heavy rare-earths component of its rare-earths processing facility in Texas."

"Lynas, the world’s largest producer of rare-earths outside of China, said the updated contract follows detailed design work and cost updates for the project.

Lynas’ Texas facility will serve both the DoD and commercial customers, and is targeted to be operational in the financial year 2026."

"Lynas Rare Earths Limited is a Malaysia-based company, which is engaged in the extraction and processing of rare earth minerals, primarily in Australia and Malaysia, and development of rare earth deposits. The Company’s assets include Mt Weld, Lynas Malaysia, Kalgoorlie and Lynas USA. "