Australia's Lynas inks US rare earth oxide supply deal

March 16 (Reuters) - Australia's Lynas Rare Earths LYC.AX said on Monday its unit had signed a binding letter of intent with the United States Department of War to finalise a rare earth oxide supply aggrement.

Under the deal, the Department of War will allocate about $96 million to buy light and heavy rare earth oxide products from Lynas, with a floor price of $110 per kg for NdPr oxide, the company said.