Lynas Rare Earths secures deal with LS Eco Energy to create facility in Vietnam
Make us a preferred source
Make us a preferred source on Google
The news: Lynas Rare Earths has entered into a framework agreement with LS Cable & System’s subsidiary LS Eco Energy to boost rare earth metals production.
The context: Under the deal, Lynas and LS Eco Energy will establish a long-term metal processing facility in Vietnam to process Lynas’ products, constructed by LS Eco Energy.
The new metal-making facility will be implemented to meet consumer demand by transforming Lynas’ rare earth oxides to metal form.
The agreement includes a cross-subscription of convertible instruments between Lynas and LS Eco Energy, valued at $30 million each.
What they said: “LS Eco Energy brings significant manufacturing expertise to the partnership, whilst Lynas has deep experience in the rare earths market. This Framework Agreement demonstrates our joint commitment to continuing to grow Industry capability and deliver success for both businesses,” Lynas CEO Amanda Lacaze said.
The source: ASX
