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Lynas sees Higher Need of Rare Earths post COVID-19

Metal News - Published on Thu, 21 May 2020

Image Source: Rare Earths
According to Australian rare earths producer Lynas, The global impact of the Covid-19 pandemic has increased the appetite for alternatives to Chinese rare earths supply chains. Lynas, which is the world's second-largest rare earths producer through its Mt Weld mine in Australia and its Kuantan processing plant in Malaysia, is engaging with consumers and governments to expand its position as an alternative supplier. Lynas said while it has been affected by short-term uncertainties linked to the impact of the coronavirus outbreak, the positive long-term demand trend remains intact.

The company intends on commercialising higher-value lanthanum and cerium products in the final quarter of its July 2019-June 2020 financial year, after reopening its Kuantan plant on 4 May following Malaysia's extended Covid-19 lockdown. New products were piloted and tested with customers during January-March.

Lynas produced 4,465t of rare earths oxide in January-March, up from 3,592t in October-December. Output is likely to be lower in April-June as a result of Malaysia's Covid-19 lockdown from late March to early May.

China accounts for around 80pc of global rare earths supply, which has led to a surge in mining companies seeking to develop projects in locations such as Australia, Africa, the US and Greenland to offer a more diversified source of raw materials and finished products.

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Posted By : Yogender Pancholi on Thu, 21 May 2020
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