Australia’s Lynas signs rare-earths deal

SYDNEY, Nov 9 (BestGrowthStock) – Australian rare-earths prospector
Lynas Corp (LYC.AX: ) has signed a new long-term supply contract
with a European consumer, the firm said on Tuesday, amid
international concerns that China is curbing rare-earth
exports.

China dominates world supply of rare earths, used in
everything from flat screens to defence equipment. Lynas says
its Australian project, due to start up next year, will be the
first new mine outside China to enter production.

Lynas said it was in talks with European, Japanese and U.S.
customers about further contracts and expected to make further
announcements in the coming months.
(Reporting by Balazs Koranyi; Editing by Mark Bendeich)

Australia’s Lynas signs rare-earths deal