Lynas (ASX:LYC) awarded Lead Agency Status for Kalgoorie plant

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by Anna Napoli

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Last Updated: 29/01/2020 10:42 AM

Rare earths miner Lynas Corporation (ASX:LYC) has been given a boost from the Western Australian government with the company’s project to build a rare earths processing plant in Kalgoorlie awarded Lead Agency status.

The Department of Jobs, Tourism, Science and Innovation is the Western Australian Government's lead agency for major resource, industry and infrastructure proposals. As Lead Agency, the Department will provide Lynas with project advice as well as assistance with managing and coordinating approvals within the project’s timeframes.

The Kalgoorlie plant is expected to be operational in early 2023. The plant is expected to create up to 500 jobs during peak construction and increase Lynas’ workforce in the Goldfields to over 200 people.

Lynas says it is delighted that the new plant in Kalgoorlie has been awarded Lead Agency status by the Western Australian government and that it is recognition of the strategic importance of the new plant to the State’s critical minerals industry.

Shares in Lynas (ASX:LYC) are trading 2.5 per cent higher at $2.45.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.