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Lynas Partners with South Korea for Rare Earths
26 Mar
Summary
- Lynas Rare Earths and LS Eco Energy will partner for rare earth metal production.
- LS Eco Energy will convert rare earth oxides into metals in Vietnam.
- Companies plan cross-subscriptions of A$30 million in convertible instruments.
Lynas Rare Earths, a leading global producer outside of China, announced a significant partnership with South Korea's LS Eco Energy on March 26, 2026. This collaboration aims to enhance the production and application of rare earth metals.
Under the agreement, LS Eco Energy is set to receive rare earth oxides or salts from Lynas. These materials will then be processed into rare earth metals within Vietnam. The processed metals are intended for the manufacturing of permanent rare earth magnets, with a specific application site planned for Virginia, U.S.
This venture underscores the critical role of rare earths in modern technology. These elements are essential components in a wide array of products, from consumer electronics like iPhones and washing machines to advanced military hardware such as F-35 jets, and are pivotal for the functioning of electric vehicles and sophisticated military systems.
Further cementing their alliance, both companies have committed to negotiating definitive deals. These negotiations include plans for each entity to cross-subscribe to about A$30 million in convertible instruments. LS Eco Energy is a subsidiary of LS Cable & System, a prominent global cable manufacturer.
