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JARE is a special purpose vehicle set up by Japan Oil, Gas and Metals National Corporation (JOGMEC) and Sojitz - the Lynas distribution partner in Japan - to ensure supplies of these crucial metals to Japanese industry.

"The relationship between Lynas and the Japanese rare earths industry is significant for the global rare earths industry, and the JARE loan facility is a key component of that relationship," said Mr Harding.

Lynas announced plans last month to spend $500 million by 2025 on value-added processing in the US and Malaysia as well as setting up a processing plant in Western Australia, near its Mt Weld mine, to extract radioactive waste from its rare earths before it is shipped to Malaysia.

The latter is designed to appease Malaysian government concerns about low level radioactive waste from its processing operations which has ignited public protests in the country.

The Malaysian Prime Minister Mahathir Mohamad has twice said Lynas will be able to continue operating in the country if it removes the radioactive waste before it reaches Malaysia, but this has yet to be formally ratified by his cabinet - some of whom actively oppose the plan.

Malaysian Environment Minister Yeo Bee Yin cancelled a planned visit to Australia last week after the West Australian and federal governments told her they would not support the export of 450,000 tonnes of this radioactive waste back to Australia.

In December, her ministry imposed extra conditions on the Lynas licence to operate in Malaysia, which included removing this waste from the country.

Lynas has appealed the new licence conditions and a hearing is scheduled for this Friday, June 28.