Japan Australia Rare Earths (JARE), a joint venture between the state-owned Japan Organization for Metals and Energy Security (JOGMEC) and Sojitz Corp, will invest the equivalent of about 125 million euros in mining company Lynas. The funds would support the growth plans of the company, which specializes in rare earths, according to a press release (PDF). JARE has already been invested in Lynas since 2011, and with the new investment it is securing priority in the supply of rare earths to the Japanese market.
Lynas has great ambitions and wants to establish itself as an alternative supplier of strategic raw materials. To this end, a processing plant is currently being built in Australia for the rare earths mined in the west of the country. At present, processing takes place at the company’s own refinery in Malaysia.