Lynas Says Malaysia Rare-Earth Refinery Nearly Complete

Bloomberg reported that Lynas Corp. (ASX:LYC) will be ready to receive rare earth ore at its Malaysia refinery in early 2012.

As quoted in the market news:

Once in production, the plant will provide an alternative source of rare earths to China, which currently produces more than 90 percent of global supply of the 17 chemically similar elements used in magnets, hybrid cars and iPods.

Click here to read the full Bloomberg report.