Lynas Corp. (LYC.AU) said Friday it has signed a long-term agreement to supply rare earths to German chemicals giant BASF SE (BAS.XE) from its Malaysian facility.

"BASF's fluid catalytic cracking business consumes lanthanum and the contract shall secure a substantial portion of BASF's long-term lanthanum requirements, with a pricing mechanism tied to market price," Lynas said in a statement to the Australian Securities Exchange.

-By David Winning, Dow Jones Newswires; +61-2-82724688; david.winning@dowjones.com

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