November 9, 2010 / 6:25 AM / 9 years ago

Australia's Lynas signs rare-earths deal

SYDNEY, Nov 9 (Reuters) - Australian rare-earths prospector Lynas Corp (LYC.AX) has signed a new long-term supply contract with a European consumer, the firm said on Tuesday, amid international concerns that China is curbing rare-earth exports.

China dominates world supply of rare earths, used in everything from flat screens to defence equipment. Lynas says its Australian project, due to start up next year, will be the first new mine outside China to enter production.

Lynas said it was in talks with European, Japanese and U.S. customers about further contracts and expected to make further announcements in the coming months. (Reporting by Balazs Koranyi; Editing by Mark Bendeich)

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