Pentagon halts rare earths funding for Lynas, MP Materials

Chinese company's minority stake in MP Materials has prompted concerns. FMTNews

A view of the Lynas rare earth open-pit mine in Laverton, Western Australia.

Australia’s Lynas Corp and privately held US firm MP Materials both said on April 22 they had been awarded funding by the Pentagon for rare earths separation facilities in Texas and California, respectively. On April 29, the Pentagon informed applicants that the decision had been “put on hold until further research can be conducted,” according to a document seen by Reuters.

The mines owned by Lynas in Australia and MP Materials in California have only minor concentrations of heavy rare earths, according to US Geological Survey data, prompting some controversy when the two companies last month said they were chosen.

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