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Re: Middleborder post# 871

Sunday, 07/26/2020 8:06:14 PM

Sunday, July 26, 2020 8:06:14 PM

Post# of 1330
CONTRACT SIGNED FOR PHASE 1 WORK ON U.S. HEAVY RARE EARTH
SEPARATION FACILITY
Lynas Corporation Limited (ASX:LYC, OTC:LYSDY) (“Lynas”) is pleased to announce
that Phase I work on a U.S. based Heavy Rare Earth separation facility has proceeded to
the contract phase and Lynas and the U.S. Department of Defense (“DoD”) have signed
a contract for this work.
As noted in our ASX announcement on 22 April 2020, Phase I funding provided by the
DoD will allow Lynas and our U.S. partner Blue Line to complete a detailed market and
strategy study plus detailed planning and design work for the construction of a Heavy
Rare Earth separation facility. In line with DoD Phase I milestones, we expect this work
to be completed in the 2021 financial year.
The development of a Heavy Rare Earths separation facility is a key initiative of the
company’s Lynas 2025 growth plan, as announced on 21 May 2019. Lynas’ new Heavy
Rare Earth facility is an attractive and strategic proposition, providing an expanded
product suite as well as the only source of separated Heavy Rare Earths outside China.
Lynas will utilise its inhouse intellectual property and proven track record in Rare Earths
separation to design and operate the Heavy Rare Earths separation facility, which will
process Heavy Rare Earths material sourced from the Lynas mine in Mt Weld, Western
Australia.
Lynas CEO & Managing Director, Amanda Lacaze, commented:
“We are very pleased to have signed a contract with the DoD for this Phase I work. Heavy
Rare Earths are essential for the high performance magnets used in electric motors, and
Lynas has the feedstock, intellectual property, and track record to deliver a Heavy Rare
Earths facility in a timely and low risk manner. We look forward to working with the DoD to
progress this project.
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