AMSJ » Lynas signs US critical minerals contract

Lynas signs US critical minerals contract

heavy rare earth elements

Minister for Resources, Water and Northern Australia Keith Pitt has congratulated Australian critical minerals company Lynas Corporation after confirmation it’s signed an historic contract with the US Department of Defence.

Minister Pitt said under the Phase 1 contract, Lynas will help design a new heavy rare earth elements (HREE) separation plant set to be built in Texas.

“This is a great result for Lynas and our critical minerals sector,” Minister Pitt said.

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“Lynas has a proven track record in the processing of rare earth elements and provides the only model to-date for establishing commercially viable rare earth separation capacity outside of China.

“Our current environment has shone a spotlight on concentrated global supply chains, particularly for critical minerals.

“This milestone brings us a step closer to a secure supply chain of rare earth materials, integral to defence and industrial bases for both our countries.”

Minister Pitt said Australia’s partnership with the US on critical minerals could not be stronger.

“Australia is the leading producer of some of the world’s most sought-after critical minerals, including rare earths, lithium, zirconium and titanium,” Minister Pitt said.

“Critical minerals are found in our phones, laptops and advanced technological products, including powerful magnets and batteries.

“Ensuring the robust and stable supply of the minerals that underpin these advanced technologies is critical.

Momentum is building, as we work with our strategic partners on options to support new investment in the sector and engagement on international standards setting processes.

“Our resources sector is innovative and responsible, and Australia has the ability to support new technologies and manufacturing capabilities.

“We are poised to partner with key economies to unlock our potential, and position Australia as s secure and reliable supplier of critical minerals to the world.”

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AMSJ Nov 2021