Business
Lynas stock soars on US funding – The Australian Financial Review
This funding agreement comes as ASX-listed Lynas has positioned itself to become the west’s largest supplier of rare earths.
The $4.4 billion company told the market costs are yet to be completed, saying it expects Department of Defence funding to be capped at $US30 million, and that Lynas will also be expected to contribute approximately US$30 million under the agreement.
Lynas did not provide a time frame on construction of the plant, but told investors the construction of the plant was part of its Lynas 2025 plan.
Lynas said the plant could eventually service both the US defence establishments strategic needs and the…
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