Lynas Rare Earths Limited (AU:LYC) has released an update.
Lynas Rare Earths Ltd has announced that its Malaysian facility is set to begin producing separated Dysprosium and Terbium, key components in high-tech and electric vehicle magnets, by 2025. This development will expand their product range to five rare earth products and is part of their commitment to fully leverage the Mt Weld ore body. The project, with an expected capital expenditure of $25 million, will be funded through Lynas Malaysia Industrial Plan and aims to enhance their offerings to meet the growing demand for these critical materials.
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