Australian metal producer Lynas Rare Earths has signed a preliminary agreement with Menteri Besar, an investment agency in the Malaysian state of Kelantan, to secure new raw materials for its rare earths plant in Malaysia.
On May 30, Lynas stated that the Malaysian state government and Lynas would reach a final agreement on the supply of mixed rare earth carbonate from ion-adsorption ore deposits in Malaysia to Lynas' local plant. The company added that the supply agreement would take effect once developers commence mining operations in the Malaysian state of Kelantan. The potential supply volume was not disclosed.