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Lynas Rare Earths Limited (ASX:LYC)

ALERT: Price-sensitive ASX Announcement for LYC
Current share price for LYC : $15.320 -5.38 (-25.99%)+
Announcement
Release
16 Mar 2026 8:52AM
Price at Release
$20.700
Full Release
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Summary
Lynas Rare Earths Ltd announced the signing of a binding Letter of Intent with the United States Department of War for the supply of rare earth oxides. Under this agreement, the U.S. Government has allocated $96 million to purchase Light and Heavy Rare Earth oxide products from Lynas, with a floor price set at $110 per kilogram for NdPr oxide. This agreement supports U.S. national security and supply chain resilience objectives, ensuring access to essential materials for modern manufacturing. The deal is set to span four years, with ongoing discussions for further supply arrangements, particularly involving Heavy Rare Earth oxides. The Letter of Intent aims to solidify a definitive agreement, reinforcing Lynas's role in supporting U.S. defense capabilities.
Key Points
  • Lynas and US Department of War sign a Letter of Intent.
  • US$96 million allocated by U.S. Government for rare earth offtake.
  • Floor price set at US$110/kg for NdPr oxide.
  • Agreement supports U.S. national security and supply chain resilience.
  • Supplies to be delivered over four years.
  • Lynas continues to engage in discussions for further supply arrangements.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.