22 July 2021
LYNAS RARE EARTHS AWARDED $14.8M AUSTRALIAN GOVERNMENT GRANT
Lynas Rare Earths Limited (ASX:LYC, OTC:LYSDY) (Lynas) is pleased to announce the
Company has been awarded a $14.8 million grant as part of the Australian governments
Modern Manufacturing Initiative. The grant will enable Lynas to commercialise an industry-first Rare Earth carbonate
refining process that has been developed by our inhouse research and development
team. The new process has been tested at bench scale and has proven effective in
producing a higher purity Rare Earth carbonate that can feed the Lynas Malaysia plant
as well as the proposed U.S. Rare Earth processing facility. The process will be installed during the construction of our Rare Earth Processing Facility
in Kalgoorlie and the grant is expected to contribute approximately 50 per cent of the
implementation cost. In keeping with our commitment to sustainable and responsible Rare Earths production,
the new refining process will contribute to reducing chemical consumption and
processing costs.
The grant was awarded following a competitive selection process as part of round 1 of the
Modern Manufacturing Initiatives Manufacturing Translation Stream for Resources
Technology and Critical Minerals Processing. This Stream supports the translation of high
quality research and ideas into commercial outcomes. Were excited to bring this world-first Rare Earth carbonate refining process to Kalgoorlie
with the support of the Australian government. Its commercialisation is the culmination of
significant research and development by our inhouse team, commented Amanda Lacaze,
CEO and Managing Director, Lynas Rare Earths. In keeping with our commitment to the efficient use of industry capital, this process has
been designed to treat our own Mt Weld concentrate and concentrate from 3rd party
feedstock as other projects come on line in the future, Ms Lacaze added.
The $500m Kalgoorlie Rare Earth Processing Facility project (including associated
upgrades at the Lynas Malaysia plant) will increase employment by approximately 290
positions during construction and approximately 120 ongoing jobs once operational. As
previously announced, the strategic significance of the project has been recognised with
Major Project Status from the Australian government and Lead Agency Status from the
Government of Western Australia.
If you have any queries in relation to this announcement, please contact Jennifer
Parker or Lauren Stutchbury, our communications consultants at Cannings
Strategic Communications on +61 2 8284 9990.
Authorised By:
Sarah Leonard Company Secretary |
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