LS Eco Energy signs 30bn‑won CB deal with Lynas to secure non‑China rare‑earth supply

LS Eco Energy announced a mutual investment agreement with Australian rare‑earth producer Lynas, under which each party will purchase 300 billion won (approximately US$22 million) of convertible bonds. The deal, signed on 27 July 2026, follows a March cooperation pact and is aimed at securing a stable non‑Chinese supply of rare‑earth raw materials.

Lynas, the world’s second‑largest rare‑earth supplier and the only company able to produce large‑scale raw material outside China, will provide the necessary feedstock for LS Eco Energy’s planned production of defense‑grade samarium metal, as well as dysprosium, terbium, neodymium and praseodymium. LS Eco Energy intends to expand its value chain from raw material procurement through metal production to permanent‑magnet manufacturing by LS Cable & System.

CEO Lee Sang‑ho said the investment demonstrates both companies’ strong commitment to growing the rare‑earth business together and to leading the global market with a secure, non‑China supply chain. The group plans an annual output of about 2 500 tonnes, extending from aerospace and missile applications to future robotics and electric‑vehicle metal needs.