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Old 08-01-2023, 11:46 PM
Sparty Sparty is offline
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Default US Govt. doubles Lynas funding

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

 

Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice.

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