Lynas Corporation Limited (ASX:LYC, OTC:LYSDY) (“Lynas”) is pleased to announce that it has been advised by the U.S. Department of Defense (“DoD”) of the DoD’s intent to award a Phase I contract for a U.S. based Heavy Rare Earth separation facility to Lynas, following the company’s tender submission to the DoD in December 2019.
Phase I funding provided by the DoD will allow Lynas and Blue Line to complete detailed planning and design work for the construction of a U.S. based Heavy Rare Earth separation facility, in line with DoD Phase I milestones.
Successful completion of Phase I milestones may lead to further contracts for commercial scale production and operation of a U.S. Heavy Rare Earth separation facility, however, this is not guaranteed. Following Phase I, the DoD will conduct a merit evaluation of Lynas/Blue Line and any other parties selected for Phase I.
Lynas CEO & Managing Director, Amanda Lacaze, commented: “We are delighted to be selected for Phase I by the DoD. We have confidence in the strength of our proposal and in our ability to meet the conditions set by the DoD for the development of a successful Heavy Rare Earths separation facility.
“Today’s announcement creates the foundation for a facility in the U.S. that will assist the U.S. to avoid the supply chain vulnerability that has been exposed over the past year. We look forward to working with the DoD on Phase 1 of this important project.”
