Lynas encountered obstacles in cooperation with the US government

Published: May 26, 2020 08:52 (GMT+8)
At present, Lynas's cooperation with the US-based heavy rare earth separation plant is uncertain because of the US government's decision to reconsider the investment.

SMM5: in April 2020, it was reported that both Lynas of Australia and MP Materials of the United States would receive funding for the construction of heavy rare earth separation plants supported by the United States. At the same time, Lynas announced a contract with the U.S. Department of Defense (DoD) in April, which is said to have funded the first phase of the project.

At present, Lynas's cooperation with the US-based heavy rare earth separation plant is uncertain because of the US government's decision to reconsider the investment.

Lynas said that the investment is still in the first phase, but understands that the United States government is solving some problems, and that progress in the first phase is currently on hold. At the same time, the company said it understood the government's decision.

"We are committed to developing our heavy rare earth separation facilities and will continue to carry out plant design and engineering work," Lynas said in the ASX announcement.

On May 22, some media said that a government document dated April 29 showed that the United States had decided to shelve the funding resolution pending further study and review.

Lynas is building a rare earth mining plant for cracking and leaching in Kalgoorlie, Western Australia. Lynas is currently mining rare earth oxides in its Mt Weld business in Western Australia.

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