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More Governments Are Warming to Rare Earths Funding, Lynas Says

  • Key supplier has talked to EU about critical minerals: CEO
  • US government agreed to spend $120 million on new Texas plant
Amanda Lacaze

Amanda Lacaze

Photographer: Brent Lewin/Bloomberg
Updated on

Lynas Rare Earths Ltd. said more developed nations could invest in new capacity for the critical minerals, after the US government agreed $120 million of funding for the company’s planned facility there.

Governments in Western Europe, the US, and Japan are newly focused on creating more resilient supply chains, Chief Executive Officer Amanda Lacaze said at the Diggers & Dealers Mining Forum in Kalgoorlie, Australia on Wednesday. She said she doesn’t expect Australia to provide the sort of financial backing that the US put toward a planned facility in Texas.