Rare earths project deal

RARE Earths processor Lynas has announced the signing of the first supply contract for supply of Mt Weld Rare Earths from the company’s Malaysian processing plant.

Lynas has offered a five year contract for a range of products produced from Mt Weld ore at the Kemaman processing plant in Malaysia and is valued in excess of US$90M over five years, according to Lynas.

Lynas’ Mt Weld Rare Earths project and processing plant are not restricted by production or export quotas, which are associated with the main industry supply sources, according to Lynas.

“The market for Rare Earths continues to tighten as existing demand increases, important new applications using Rare Earths are developed and production in China is curtailed due to production quotas and environmental concerns,” Lynas’ executive chairman Nicholas Curtis said.

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