(March 16): Lynas Rare Earths Ltd has signed a binding letter of intent to supply the Pentagon with rare-earth oxides over a four year-period. The arrangement is worth US$96 million and will cover heavy and light rare-earth products, the company said in a statement Monday. Lynas is one of only two major rare-earths miners outside China — which holds a near monopoly over the supply chain. The company has plans to develop a heavy rare earth processing facility at Seadrift in Texas, however, there is “significant uncertainty” as to whether construction will go ahead, Lynas said in the statement. The agreement comes just a week after Lynas signed an offtake agreement with Japan Australia Rare Earths BV, which negotiates on behalf of Japanese companies.

Source: The Edge Markets March 16, 2026 01:13 UTC