Competition no worry for Lynas

Original article by Nick Evans
The Australian – Page: 20 : 30-Aug-19

Rare earths miner Lynas Corporation has posted a 2018-19 net profit of $80m, compared with $53.1m previously. However, EBITDA fell to $100.7m and revenue was also lower at $363.5m. Meanwhile, CEO Amanda Lacaze is not unduly concerned by the mining sector’s growing interest in rare earths, arguing that increased competition could benefit Lynas. She is also optimistic that the Malaysian Government will renew the company’s full operating licence after agreeing to extend its current licence by six months.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, NORTHERN MINERALS LIMITED – ASX NTU, ILUKA RESOURCES LIMITED – ASX ILU

Lynas on short leash as Malaysia extends licence

Original article by Brad Thompson
The Australian Financial Review – Page: Online : 16-Aug-19

Malaysian authorities have extended Lynas Corporation’s operating licence for its $1 billion rare earths processing plant at Kuantan for just six months, with the licence due to expire on 2 September. The plant processes rare earths from Lynas’s Mt Weld mine in Western Australia, and is the largest source of rare earths outside of China. Lynas CEO Amanda Lacaze had said recently that it would be happy with a three-year extension to its licence, although a five-year extension would be ideal.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, WESFARMERS LIMITED – ASX WES

Reynolds welcomes deal on rare earths with non-Chinese customer

Original article by Brad Thompson
The Australian Financial Review – Page: Online : 13-Aug-19

Federal Defence Minister Linda Reynolds says it is important that Australia ensures it has secure supplies of critical resources, in particular rare earths. Reynolds notes that defence firms need access to rare earths, as rare earths are used in the production of defence equipment. She welcomed the announcement on 12 August by heavy rare earths supplier Northern Minerals that it had signed a 100 per cent off-take agreement with Thyssenkrupp, which is one of the largest materials distributors to the Western world. The announcement followed just days after Northern Minerals terminated an off-take agreement with Chinese firm Lianyugang Zeyu New Materials Sales Company.

CORPORATES
AUSTRALIA. DEPT OF DEFENCE, NORTHERN MINERALS LIMITED – ASX NTU, LIANYUGANG ZEYU NEW MATERIALS SALES COMPANY, LYNAS CORPORATION LIMITED – ASX LYC

Lynas calls for US backing of rare earth firms

Original article by Nick Evans
The Australian – Page: 20 : 8-Aug-19

Lynas Corporation MD Amanda Lacaze addressed the annual Diggers & Dealers forum on 7 August. She said the US will need to provide financial support to rare earths producers in order to ensure that it has a secure long-term supply of the minerals, which are critical for electric vehicles and military weapons. Lacaze says she expects Lynas to receive support from the US, given that the company is set to become the only producer of heavy rare earths outside of China.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, DIGGERS AND DEALERS FORUM, BLUE LINE CORPORATION

China rare earth demand soft: Lynas

Original article by Paul Garvey
The Australian – Page: 20 : 30-Jul-19

Rare earths producer Lynas Corporation has advised that its sales for the June quarter totalled 4,723 tonnes, compared with 5,030 tonnes in the three months to March. CEO Amanda Lacaze says demand for rare earths remains soft, despite ongoing trade tensions between the US and China. The subdued price for rare earths has prompted Lynas to increase the stockpiles at its processing plant in Malaysia. Lacaze adds that Lynas is still in talks with the Malaysian government regarding the renewal of its operating licence.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC

Tax fight left rare earths miner on the brink

Original article by Paul Garvey
The Australian – Page: 17 & 20 : 1-Jul-19

Northern Minerals has spent $210m to date on its Browns Range rare earths project in Western Australia’s East Kimberley region. MD George Bauk says a dispute with the Australian Tax Office over a $10.8m research and development tax rebate nearly saw the company collapse in early 2019. The ATO also demanded that Northern Minerals repay $13.4m worth of previous R&D rebates. Bauk maintains that the Browns Range processing plant is an R&D site, as the technology it uses is still being developed and improved.

CORPORATES
NORTHERN MINERALS LIMITED – ASX NTU, AUSTRALIAN TAXATION OFFICE, LYNAS CORPORATION LIMITED – ASX LYC, WESFARMERS LIMITED – ASX WES

Minister cans visit after waste rebuff

Original article by Amanda Hodge
The Australian – Page: 8 : 20-Jun-19

The future of Lynas Corporation’s rare earths processing plant in Malaysia remains uncertain after the nation’s Environment Minister Yeo Bee cancelled a trip to Australia. Yeo was scheduled to meet federal Environment Minister Sussan Ley on 19 June and Western Australian Mines Minister Bill Johnston on 20 June. Yeo advised that her visit would not proceed after Johnston indicated that the talks would be a waste of time as WA will not allow Lynas’s low-level radioactive waste to be imported from Malaysia. Ley is also of the view that disposal of the waste material is Malaysia’s responsibility.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, MALAYSIA. DEPT OF ENVIRONMENT, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, WESTERN AUSTRALIA. DEPT OF MINES, INDUSTRY REGULATION AND SAFETY

US-Australia to secure rare earths

Original article by Angus Grigg, Phillip Coorey
The Australian Financial Review – Page: 1 & 2 : 13-Jun-19

The US, Canada and Australia will co-operate in developing a strategy to reduce reliance on China for key minerals such as rare earths and lithium. Rare earths in particular are crucial in a range of technology, including defence systems, wind turbines and electric vehicle batteries. Meanwhile, Austrade has identified a list of Australia’s ‘critical’ mineral resources that could potentially be developed using offshore capital. The Northern Australia Infrastructure Facility is also considering an investment in Arafura Resources’ proposed rare earths mine in the Northern Territory.

CORPORATES
AUSTRADE, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, ARAFURA RESOURCES LIMITED – ASX ARU, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, GEOSCIENCE AUSTRALIA, AUSTRALIAN NUCLEAR SCIENCE AND TECHNOLOGY ORGANISATION, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. NATIONAL SECURITY COMMITTEE, UNITED STATES. DEPT OF COMMERCE, CHINA. NATIONAL DEVELOPMENT AND REFORM COMMISSION, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Rare earths dispute lifts Lynas

Original article by Paul Garvey
The Australian – Page: 20 : 22-May-19

Lynas Corporation produced 5,444 tonnes of neodymium and praseodymium in fiscal 2018, but it has outlined plans to lift this to 10,500 tonnes a year via a $500m capital investment program. Lynas has also advised that it will undertake the initial processing of ore from its Mt Weld project in Western Australia at a site near the mine, rather than exporting the raw materials to its processing plant in Malaysia. Meanwhile, Lynas share closed 14.4 per cent higher at $2.26 on 21 May, after China flagged plans to cease exporting rare earths to the US amid ongoing trade tensions between the two nations.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, WESFARMERS LIMITED – ASX WES

Lynas caves in over local processing

Original article by Paul Garvey
The Australian – Page: 17 & 20 : 9-Apr-19

Dylan Kelly of CLSA estimates that Lynas Corporation will incur costs of about $100m if it shifts the ‘cracking and leaching’ part of its rare earths processing operation from Malaysia to Australia. Malaysian Prime Minister Mahathir Mohamad recently signalled that Lynas will be able to keep its processing plant open provided that early-stage processing is carried out in Australia. Lynas suitor Wesfarmers committed to undertaking this stage of processing in Australia in talks with the Malaysian Government.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, WESFARMERS LIMITED – ASX WES, MALAYSIA. DEPT OF THE PRIME MINISTER, CLSA AUSTRALIA PTY LTD, GREENCAPE CAPITAL PTY LTD, JAPAN AUSTRALIA RARE EARTHS, JAPAN OIL GAS AND METALS NATIONAL CORPORATION, SOJITZ CORPORATION