Rare earths miner targets US investment to rival Chinese supplies

Australia’s Lynas, the world’s largest non-Chinese rare earths miner, is raising A$825mn (US$538mn) to expand operations and invest in US magnet makers, aiming to reduce reliance on China for critical minerals. Despite a drop in net profit, the company continues to engage with governments on developing a non-Chinese supply chain and has plans for a US facility, while also expanding into processing heavy rare earths.