Japan Acts To Wean Itself Off Chinese Rare Earths

Sydney Morning Herald reported that Japan Inc is investing heavily in Lynas Corp (ASX:LYC) to lessen Japan’s reliance on Chinese rare earths.

The market news is quoted as saying:

The $55 million institutional placement at $2.07 a share and the $20 million SPP takes to $325 million the amount that the Japanese and Lynas are putting in place to fund an accelerated expansion of Lynas’s Mount Weld rare-earths project near Laverton, in Western Australia, and the project’s associated processing facilities in Malaysia.

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