A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021.
Lacaze highlighted Malaysia, where Lynas already operates processing facilities, as a region with geological potential similar to other parts of Southeast Asia. She also confirmed interest in Brazilian deposits. “Yes, there are deposits there, yes, there are deposits in Brazil. Yes, we are looking at them,” she said. In Malaysia, any development would prioritize high environmental and sustainability standards, with Lynas open to partnering with local companies to implement its operational expertise. “Would we like to see them developed? Yes. Will we facilitate that development? Yes,” Lacaze added.
The company’s interest in expansion comes amid global economic uncertainties, prompting Lynas to seek new growth avenues. In Australia, where Lynas operates its Mt Weld mine, the re-elected Labor government has proposed stockpiling critical minerals, including rare earths. Lacaze described this approach as inefficient, stating: “You need to focus on developing a strong and successful business, and one which relies upon government funding to construct and then government funding to produce is probably by definition uneconomic.”
Globally, rare earths are vital for industrial magnets and certain defense applications, with demand growing. Lacaze noted challenges in developing new supplies, which can take years. She referenced U.S. efforts to secure rare earth supplies, including a recent agreement with Ukraine, and humorously remarked: “I sometimes want to take an ad out in the Washington Post saying, ‘Want Rare Earths? Call 1800 Lynas.’”
Lynas remains committed to sustainable and economically viable growth, leveraging its expertise to support new projects while maintaining high standards.
