The deal comes as manufacturers of wind turbines using direct-drive permanent-magnet generators (PMGs) scramble to lock-down supplies of the rare-earth metal neodymium needed for the machines.
Siemens will own 55% of the joint venture, with Lynas holding the remainder. All other details of the agreement are “currently being developed”.
Lynas owns the mining rights at Western Australia’s Mount Weld, which holds one of the world’s richest deposits of rare-earth metals.
It
