LYC -0.47%: the rare earth minerals business announced they had secured a $US120m contract to build a processing facility in the US in partnership with the US Department of Defence. The deal fully funds the construction of the facility that provides the US with access to supply of the critical minerals essential for manufacturing a range of military tools as well as electric vehicles and wind turbines. The market is currently dominated by Chinese suppliers which heighten the risk of supply disruptions at critical times. The refinery is expected to be built in Texas and be operational by 2025.
MM remains bullish and long LYC in the Emerging Companies Portfolio
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