US Govt. doubles Lynas funding

[Sparty]

The US government has doubled its funding for Lynas' heavy rare earths refinery in Texas to $384 million.

The initial pledge was $120 million in June 2022.

The extra money will reimburse Lynas for construction costs.

This is the third time Lynas has received US government support for its rare earths refinery.

Lynas' flagship products are neodymium and praseodymium, which are used to make permanent magnets in car engines and wind turbines.

The Biden administration is accelerating its mission to secure supplies of rare earths.

Read the article summarised above: https://www.afr.com/companies/mining...0230801-p5dsvl