Pentagon and Australia's Lynas Finalize $96 Million Deal for U.S. Rare Earths Facility
The U.S. Department of Defense has awarded a $96 million contract to Australian mining company Lynas Rare Earths. The funding is designated for the construction of a light rare earth processing facility in Texas. This initiative is a critical component of the Pentagon's strategy to onshore the production of materials vital for national security. By establishing a domestic supply chain, the U.S. aims to reduce its significant reliance on foreign sources, particularly China. These rare earth elements are essential for manufacturing high-performance magnets used in numerous defense applications, including the F-35 fighter jet and precision-guided munitions.
Official Source: https://aviationweek.com/defense/supply-chain/pentagon-australias-lynas-sign-96-million-rare-earths-deal
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