Australian rare earths producer Lynas to submit plant tender to U.S. Army

Texas Mineral Resources

12/12/2019 23:37

Dec 13 (Reuters) - Australia's Lynas Corp  LYC.AX  on Friday
said it would submit a compliant tender in response to the U.S.
Department of Defense's call for proposals to build a heavy rare
earths separation plant in the United States.  
    The world's only major rare earths producer outside China
said in a statement the tender period was not yet closed. It
gave no other details.    
    Reuters on Wednesday had reported about the U.S. Army plans
to fund construction of rare earths processing facilities, as
part of an urgent push by Washington to secure domestic supply
of the minerals used to make military weapons and electronics.
 urn:newsml:reuters.com:*:nL1N28K21L 
    The United States is looking to safeguard supplies of rare
earths as the protracted trade war with China fuelled concerns
that Beijing may look to restrict supply of the key minerals,
which has raised the spotlight on Lynas. 
    Sources familiar with the matter had said the joint venture
between Lynas and privately held Blue Line Corp is among the
expected respondents to the tender, and responses are due by
Dec. 16.
    The two firms earlier this year signed a memorandum of
understanding to build a rare earth processing facility in
Texas.  
    Other miners mentioned are UCore Rare Metals Inc  UCU.V  and
Texas Mineral Resources Corp  TMRC.PK .  

 (Reporting by Niyati Shetty in Bengaluru; Editing by Stephen
Coates)
 ((Niyati.N.Shetty@thomsonreuters.com; +918067497199;))