Lynas Rare Earths Ltd will expand its processing capacity of so-called heavy rare earths at its Malaysian refinery to meet increasing demand for the metals key to robotics, advanced tech and military applications.
In a statement, the company, which is the only supplier of both light and heavy rare earth oxides outside China, said it will build a new separation facility at its plant.
It will use ore from its Mount Weld mine in Australia as well as other sources from Malaysia.
“Market demand for heavy rare earths is high and Lynas can be selective in where, and at what price, we sell heavy rare earth oxides,” its CEO Amanda Lacaze said.
It comes as the US and Europe work to reduce their dependence on sources of critical minerals from China, which dominates the sector.
Japan, which invested in Lynas after Beijing briefly cut off its access to rare earths in 2010, struck a new agreement with the US on Tuesday to cooperate and stockpile the metals, widely used in many products, ranging from consumer items to military equipment.
Lynas said the expansion project will cost nearly A$180 million (RM497 million).
First production is expected from April.
