Australia’s Lynas
Rare Earths warned of considerable uncertainty over the future of its heavy rare-earths processing plant in Texas and also reported a steeper-than-expected drop in its annual profit on Thursday.
Lynas, the world’s largest rare-earths producer outside China, said it is in negotiations with the U.S. Department of Defence to reach a mutually acceptable offtake agreement for production from the Texas-based Seadrift facility.
“While there can be no certainty that offtake agreements will be agreed, any offtake agreements would need to be on commercial terms acceptable to Lynas,” the miner said.
Lynas has been developing the facility under a contract with the U.S. DoD, with plans to begin operations in fiscal 2026. However, the company indicated that construction of the plant may not move forward.
