A push by U.S. and Australia to build infrastructure to extract and process rare earth elements to support clean energy technologies and counter China’s market dominance are moving quickly.
The U.S. Dept. of Defense has awarded a $120-million contract to a domestic unit of Australia-based Lynas Rare Earths Ltd. to build the first heavy rare earth processing plant in the U.S., while MP Materials is starting construction on a rare earth metal alloy and magnet manufacturing plant—both located in Texas. Fluor Corp. meanwhile has won an EPC contract of undisclosed value to develop Australia’s first rare earths refinery.