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Rare-Earth Miner Lynas Advances Plans to Supply Pentagon

Paul-Alain Hunt
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Lynas Rare Earths Ltd. has secured a $96 million binding agreement to supply rare-earth oxides to the U.S. Pentagon over four years, marking a strategic move to bolster domestic defense supply chains. The deal covers both heavy and light rare-earth products, essential for military technologies, electric vehicles, and renewable energy systems like wind turbines. This framework agreement formalizes Lynas’ role as a key supplier, addressing critical mineral shortages that have raised national security concerns in recent years. The Pentagon’s reliance on rare earths underscores their importance in advanced defense applications, including quantum sensors, precision-guided munitions, and hypersonic systems. The announcement follows growing U.S. efforts to reduce dependence on Chinese rare-earth dominance, with Lynas operating processing facilities in Australia and Texas.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Lynas Rare Earths Ltd. has signed a binding letter of intent to supply the Pentagon with rare-earth oxides over a four-year period.The arrangement is worth $96 million and will cover heavy and light rare-earth products, the company said in a statementBloomberg Terminal on Monday. The letter “establishes a framework to finalize an agreement for the supply” of the critical minerals, used in everything from wind turbines and electric-vehicle motors to advanced military applications.

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Source: Bloomberg Markets

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