Lynas signs sub-lease for Kalgoorlie rare earth processing facility
Lynas Corporation Ltd (ASX:LYC, OTC:LYSDY) announced on Friday it signed a sublease with Kalgoorlie to build a rare earth processing facility. Securing the sub-lease for the site is a key milestone in the development of the planned facility.
Expected to be operational mid-2023 the facility will process rare earth concentrate from the Lynas mine at Mt Weld, near Laverton.
The sub-lease is for a 135-hectare industrial-zoned site located on the Great Eastern Highway in the City of Kalgoorlie-Boulder. Lynas has completed environmental studies on the site and is seeking regulatory approval to carry out Preliminary Works later this calendar year. Construction is expected to commence in mid-2021, subject to approvals, and the facility is expected to be operational by mid-2023.
Lynas claims its the world’s second largest rare earths producer and the only significant producer outside China.