When Amanda Lacaze took the helm of Australian rare‑earth miner Lynas in 2014, the company teetered on the brink. Its shares had tumbled more than 90% in recent years and the previous CEO lasted just 14 months. Lacaze, a marketer by training, faced the daunting task of breaking China’s near‑total grip on the strategic mineral supply chain.

She reshaped Lynas’ operations, securing a $1.2 billion contract to supply the U.S. defense department, effectively turning the firm into a Pentagon supplier. By diversifying customers and expanding processing capacity in Malaysia, Lacaze reduced reliance on Chinese refining. The 2022 pact guarantees $200 million deliveries, anchoring Lynas in the U.S. defense supply chain.

Lacaze’s gamble paid off; she avoided a career dead‑end and restored confidence in non‑Chinese rare‑earth sources. The revival underscores growing geopolitical pressure to secure supply chains for defense and clean‑energy technologies. It signals miners that government contracts can revive fortunes.