SYDNEY -- Australian rare-earth miner Lynas will receive funding from the U.S. Defense Department for a planned processing plant in Texas, a project that Washington hopes will lessen its reliance on China for strategically important materials.
Commodities
Pentagon to fund rare-earth refinery by Australia's Lynas
Washington seeks to reduce reliance on China
A Lynas mine in Western Australia: Rare-earth elements are mined worldwide, but refining is largely handled in China. (Photo courtesy of Lynas)