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Lynas Corporation Provides Update on U.S. Heavy Rare Earths Separation Facility

22 May 2020  |  18:05:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Update on U.S. Heavy Rare Earths Separation Facility

Lynas Corporation announced on 22nd April 2020 that it has been advised by the U.S. Department of Defense ("DoD") of the DoD's intent to award a Phase I contract for a U.S. based Heavy Rare Earth separation facility to Lynas. The Company has subsequently seen media reports in the U.S. of political debate on the merits of supply from the U.S., supply from U.S. allies, and supply from other sources. The Company remains one of two companies selected for Phase 1 of the project, however the Company understands that the U.S. government's progress on Phase 1 is currently on hold while those political issues are addressed. The Company is committed to developing Heavy Rare Earth separation facility and work is continuing on the plant design and engineering.

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