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Lynas Rare Earths (OTCPK:LYSCF) (OTCPK:LYSDY) said Thursday it plans to begin production in 2025 of two separated heavy rare earth products used in electric vehicles and electronic gadgets at its metals processing plant in Malaysia.
Lynas (OTCPK:LYSCF) (OTCPK:LYSDY) said it has designed a new process that for the first time will produce separated dysprosium and terbium at the plant, from which it ships rare earth materials to customers in the U.S., Europe and East Asia.
Dysprosium and terbium are both essential to high performance rare earth permanent magnets used in electric vehicles and high tech applications such as micro-capacitors which are essential to all electronic devices; Dy, Tb and other heavy rare earth oxides from the Mt. Weld ore body currently are sold only as a mixed HRE compound.
This is “the first step towards offering an expanded suite of heavy rare-earth products,” Lynas (OTCPK:LYSCF) (OTCPK:LYSDY) CEO Amanda Lacaze said.
The company also said it is working on a detailed engineering design for the new Malaysia circuit, which it expects will be able to separate as much as 1,500 metric tons/year of mixed heavy rare earth compound.