India boosts gold reserves by most in two years, WGC says
The Reserve Bank of India added more than nine tons in June, based on calculations using weekly data from the bank.
Australia’s Lynas Rare Earths said on Thursday that its Malaysian unit is targeting the first production of two separated heavy rare earth products in 2025.
The world’s largest rare earths producer outside China said in its statement that a new process will produce separated dysprosium and terbium – both used in manufacturing magnets and electronic goods – at Lynas Malaysia for the first time.
Lynas added that the reconfiguration of one of its Malaysian unit’s solvent extraction circuits will facilitate the production of the two rare earth minerals, with commissioning and ramp-up expected in mid-2025.
The rare earths producer said it is also progressing pre-construction activities for its planned US rare earths processing facility.
Lynas’ production announcement for its Malaysian unit comes after the plant recommenced operations in January.
(By Shivangi Lahiri; Editing by Alan Barona)
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