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Rare Earths Mine Opens in Australia

9:20 AM MDT | August 5, 2011 | Ian Young

Lynas Corp. (Sydney) has officially opened its rare earths mine at Mount Weld, Western Australia. The previously announced project cost an estimated A$100 million to develop over a period of 10 years. The mine is expected to reduce the dependence of rare earth consumers worldwide on imports from China, which currently accounts for more than 95% of global rare earth supplies. The Mount Weld mine is expected to be in production for about 20 years. Lynas completed earlier this year a plant at Mount Weld that concentrates rare earths ore produced at the mine. The...

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