Lynas Rare Earths Ltd (ASX:LYC | OTC:LYSDY) has announced first production of Dysprosium Oxide (Dy) at its plant in Malaysia. This achievement makes Lynas the first producer of ‘heavy’ rare earths outside of China, marking a key milestone in the rare earths industry.
The heavy rare earths separation circuit was initially commissioned during the March quarter, with first production of DY expected in May. This is to be followed by Terbium (Tb) in June.
Speaking on this latest development, Amanda Lacaze, CEO and Managing Director of Lynas Rare Earths noted “Lynas is pleased to confirm first Dy production on our new production line at Lynas Malaysia. The production of this on spec Dy is a significant step for supply chain resilience and provides customers with the option of sourcing product from an outside China supplier. Lynas is now the world’s only commercial producer of separated Heavy Rare Earth products outside China.
‘’Lynas is uniquely positioned to contribute to and benefit from efforts to diversify and rebuild supply chains, including opportunities for a sustained market restructure. We are engaged with customers in Japan, the United States and Europe regarding Heavy Rare Earths supply,’’
China recently placed heavy export restrictions on its rare earth elements, as a response to the new tariffs out of the US, and so this production is significant to enable production for a broader set of customers.
