With the successful production of dysprosium in its processing plant in Malaysia, Australian Lynas Rare Earths (WKN 871899 / ASX LYC) has become the first producer of so-called “heavy” rare earths outside of China!
Dysprosium is one of the not-so-rare elements needed for the production of high-performance magnets, such as those used in wind turbines or electric vehicles. And due to its great importance for these two industries, among others, the People’s Republic had recently imposed export restrictions on dysprosium.
The Australian company reported the first successful production of dysprosium oxide in Malaysia at the end of last week. Although the facility there has been in operation for more than a decade, Lynas has mainly produced so-called “light” rare earths there until now.
Now, however, Lynas is the first non-Chinese company to produce a heavy rare earth element on a commercial scale. This is even more significant as China has so far carried out almost 100% of rare earth processing and has a 70% market share in mine production. Lynas sources its raw material from its Mt Weld mine in Western Australia.
According to its own statement, the company is already in talks with potential end customers from Europe, the USA, and Japan for its production of heavy rare earths. It was further stated that the facility in Malaysia can currently produce up to 1,500 tons of heavy rare earths per year. Given the “high demand” from Western customers, the company expects to be able to charge a premium over Chinese prices.
Lynas is also in the process of building a new processing plant in the USA (Texas). However, the company has also stated that it may need government funding to complete the project.
US Government Provides Canadian Ucore Rare Metals with $18.4 Million
Canadian Ucore Rare Metals (WKN A2QJQ4 / TSXV UCU), which is positioning itself as an important part of a Western supply chain for the highly sought-after elements with its RapidSX technology for separating rare earths – both light and heavy rare earths can be processed – has just received such funds from the US government!
As we recently reported, the US Department of Defense is providing Ucore with $18.4 million to advance its technology to commercial readiness as quickly as possible. The goal is to be operational in the second half of 2026! Learn more now: https://goldinvest.de/en/usa-provides-ucore-with-18-4-million-for-commercialization-of-rare-earth-technology-rapidsx/
