Lynas Rare Earths will be expanding capacity at the Mount Weld mine and concentration plant in Western Australia. The $500 million project will be designed to meet the accelerating market demand for rare earth materials.
By 2025 Lynas have a targeted growth plan to increase NDPR production by 50%.
Lynas managing director Amanda Lacaze said to meet Lynas’ ambition to grow with the market, an accelerated growth plan is essential.
“Investment in capacity expansion will be required at every production stage. This starts with increasing feedstock availability and this project will substantially expand Mt Weld’s feedstock capacity, targeting feedstock production capacity of 12,000 tonnes per annum NdPr equivalent in 2024.”
New energy technologies such as wind energy and electric vehicles have put pressure on the rare earths market.
“Lynas has a decade long track record in responsible rare earths production and this project is designed to ensure we continue to grow with the market as a supplier of choice.
“This investment is supported by our high grade, long life and reliable source of feedstock, the remarkable Mt Weld ore body.
“Having a long life resource is an essential foundation for success in the rare earths market and the recent 1km deep drilling has demonstrated Mt Weld’s potential to supply feedstock for many years into the future.
“The Mt Weld capacity expansion project aims to unlock its true value in the most efficient and sustainable way to 2025 and beyond.”
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