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update 2-australia\'s lynas, blue line plan texas rare earths facility

by:Newland     2019-09-18
* Lynas only major rare earth mineral producers outside of China * companies developing the Texas rare earth separation facility * will close the supply chain Gap in the USS. manufacturers -Lynas (
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Kuala Lumpur, May 20. Reuters)-
Rare earth producer Lynas said on Monday it had signed a memorandum of understanding with Texas
The US-based Blue Line company will establish a rare earth separation facility in the United States.
The move comes as the United States relies heavily on China, the world\'s largest rare earth producer, to prioritize the purchase of strategic minerals used in everything from consumer electronics to military equipment.
Lynas and Blue Line will work together to develop processing facilities in Texas next year.
The two companies said in a joint statement that the joint venture would be majority owned by Lynas.
With Lynas\'s processing plant in Malaysia facing regulatory issues and refusing to pay $1, the agreement has been reached.
Australian retail 1 billion offer-to-
Chemical Group Wesfarmers ltdceo Amanda Lacaze said in a telephone interview with Reuters, the United StatesS.
Venture capital is a specific market opportunity that will complement its business in Malaysia.
The joint venture will enable Lynas to fill the \"critical\" supply chain Gap in the USS. manufacturers.
Lacaze said this is \"an important reflection of the fact that countries around the world are eager to have the ability to process rare earths \".
\"Electric car manufacturers are looking for safety in the supply of heavy and light rare earths, which provides the opportunity,\" she said . \".
Lynas is the only major producer of rare earths outside China.
Materials produced by the company, such as nd-
Ase for various applications such as electrical components and high powerpower magnets.
The companies did not provide any details about the cost of the proposed American oil company. S. facility.
Lacaze said that the company was \"absolutely committed\" to Malaysia and that in order to extend the permit, the company was required to remove waste accumulated by the plant for many years.
She believes Lynas can meet the framework proposed by Prime Minister Mahathir Mohamad, who said in April that Lynas or any other company needs to clean raw materials coming to Malaysia in order to operate in Malaysia.
Lynas said that in view of the situation in Malaysia, it is considering preliminary ore processing near the Australian mine.
The company reported a third increase of nearly 33% last month.
Quarterly production of rare earth oxides and rejected a bid from weisnon for undervaluing its business. . (
Liz Lee reports;
Additional reports by Ambar Warrick in Bengaluru;
Richard Pullin editor)
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