Lynas Rare Earths Partners with Malaysian Government for Rare Earths Supply

Lynas Rare Earths ( (AU:LYC) ) just unveiled an announcement.

Lynas Rare Earths Ltd has signed a Memorandum of Understanding with Menteri Besar Inc., the investment arm of the Kelantan State Government in Malaysia, for the supply of mixed rare earths carbonate. This collaboration aims to enhance the Malaysian rare earths industry by leveraging local resources and Lynas’ expertise. The agreement is expected to bolster Lynas’ operations by providing a reliable feedstock for its Malaysian plant, particularly benefiting from the high proportion of Heavy Rare Earths in Malaysia’s ionic clay deposits, which are crucial for technologies like electric vehicles and electronics.

The most recent analyst rating on (AU:LYC) stock is a Buy with a A$7.15 price target. To see the full list of analyst forecasts on Lynas Rare Earths stock, see the AU:LYC Stock Forecast page.

More about Lynas Rare Earths

Lynas Rare Earths Ltd is a prominent player in the rare earths industry, focusing on the production and supply of rare earth materials. The company operates in the advanced materials sector, with a significant market presence in Malaysia, where it runs an advanced materials plant in Kuantan.

Average Trading Volume: 4,690,066

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$7.44B

See more data about LYC stock on TipRanks’ Stock Analysis page.