Australia can take a “substantive position” in critical minerals sector: Lynas CEO

Lynas Corp CEO Amanda Amanda Lacaze says it’s heartening to see Australia taking a more “substantive position” in the global critical minerals value chain. Lynas has enjoyed record growth in the last financial year, posting an after-tax profit of $80 million, up from $53.1 million a year ago. The Australian corporation is the only major producer of rare minerals, which is critical in the production of goods like electric car batteries and smart phones. Lynas has signed a memorandum of understanding with the City of Kalgoorlie-Boulder, with an eye to establish a cracking and leaching plant. Ms Lacaze has told Sky News it would be a “very good idea” if Australia created “a centre of critical mass” in the area. Locations like Kalgoorlie offer an opportunity for Australia to exploits its access to in-demand rare earth minerals, she said.

from National | Daily Telegraph https://ift.tt/2OestCY