KUALA LUMPUR, Oct 29 — Lynas Rare Earths Ltd will increase the processing capacity of heavy rare earths at its Malaysian refinery to meet growing demand for metals applyd in robotics, advanced technology, and military applications.
In a statement published in Bloomberg, the company — the only supplier of both light and heavy rare earth oxides outside China — stated it will construct a new separation facility at its plant.
It will process ore from its Mount Weld mine in Australia as well as other sources in Malaysia.
“Market demand for heavy rare earths is high and Lynas can be selective in where, and at what price, we sell heavy rare earth oxides,” chief executive officer Amanda Lacaze stated.
The expansion comes as the US and Europe aim to reduce reliance on China, which dominates the rare earths sector.
Japan, which invested in Lynas after Beijing briefly cut off access to rare earths in 2010, signed a new agreement with the US on Tuesday to cooperate and stockpile metals widely applyd in products ranging from consumer goods to military equipment.
Lynas stated the project will cost around A$180 million (RM497 million), with first production expected in April.
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