Lynas Rare Earths said on Tuesday it had signed an updated contract with the U.S. Department of Defense for the construction of the heavy rare earths component of its rare earths processing facility in Texas.

Under the contract, a contribution of about $258 million by the U.S. government is currently allocated to the project, Lynas said.

(Reporting by Himanshi Akhand in Bengaluru; Editing by Maju Samuel)