Lynas to accelerate US market growth

Company News

by Rachael Jones

Rare earth producer Lynas (ASX:LYC) have released their presentation to the Argus US Specialty Metals conference today showing they will benefit from their US plant regardless of the trade war with China.

Lynas last month signed a memorandum of understanding to build a rare earth processing facility in Texas with privately held Blue Line Corp.

China signaled it may restrict shipments of rare earth materials to the US.

Currently all Heavy Rare Earths (HRE) separation is in China.

It is expected this reduction in supply while demand is increasing, especially with the demand for electric cars, will lead to a substantial price increase.

Shares in Lynas (ASX:LY) are trading 5.17 per cent higher at $2.85.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.