Lynas leads non-China heavy rare earths production at M’sian facility

 The production of dysprosium, used in high performance magnets for renewables and electric vehicles, marks a major milestone for the Australian company.

Lynas Rare Earths Ltd said it is marketing its heavy rare earth product at a premium compared with benchmark prices in China, capitalising on demand from Western customers. (AP pic)

KUALA LUMPUR:

 Lynas Rare Earths Ltd has become the first commercial producer of so-called “heavy” rare earths outside China, refining dysprosium oxide at its facility in Malaysia.

The production of dysprosium, used in high performance magnets for renewables and electric vehicles, marks a major milestone for the Australian company which already produces light rare earths for smart-phones and defence applications.

“We are engaged with customers in Japan, the US, and Europe regarding heavy rare earths supply,” Lynas CEO Amanda Lacaze said in a statement.

Lynas said in its most recent quarterly operational report that it was marketing its heavy rare earth product at a premium compared with benchmark prices in China, capitalising on demand from Western customers.

China has a near monopoly over rare earths and has used its market power as a tool in the tariff war with the US. It placed export controls over materials including dysprosium and terbium, which it only loosened this month. - FMT