Australia’s Lynas Rare Earths faces uncertainty over its Texas plant and reports a drop in profit. Negotiations with the U.S. DoD for an offtake agreement are ongoing. CEO emphasizes the importance of investing in supply chains outside China. Lynas plans to participate in rare earth magnet projects in the U.S. and signs a deal with Korea’s JS Link for a facility in Malaysia. The miner’s net profit after tax falls sharply to A$8 million, missing estimates. Lynas announces an A$750 million equity raising for growth opportunities.

Read more at Yahoo Finance: Lynas flags uncertainty over Texas rare earths plant, posts profit slump