Lynas to keep stockpiling amid price surge

Lynas is still stockpiling production of its major rare earth element, neodymium praseodymium, despite a sharp increase in prices as rare earths find themselves in the middle of the US-China trade war.

Lynas, the only major proven producer outside China of rare earths, said its decision will allow it to consolidate its position as a preferred supplier.

The ASX-listed firm, a takeover target for Wesfarmers earlier this year, last month unveiled detailed plans to spend $500 million to boost production and set up an initial processing facility in WA.

AAP

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