|Bid||2.5700 x 0|
|Ask||2.5800 x 0|
|Day's Range||2.5600 - 2.6400|
|52 Week Range||1.4800 - 3.1600|
|Beta (3Y Monthly)||0.80|
|PE Ratio (TTM)||88.28|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.38|
Australia's Lynas Corp said it was stockpiling production of a major rare earth element, with prices jumping in recent weeks as supply concerns mount amid trade tensions between China and the United States. The miner said its decision to stockpile Neodymium Praseodymium (NdPr), used in industrial magnets, for "strategic customers" was to help it consolidate its position as a preferred supplier to customers outside China.
Lynas Corp on Friday said it was stockpiling production of its major rare earth element, Neodymium Praseodymium, despite a sharp increase in prices lately as rare earths find themselves in the middle of the U.S.-China trade war. Lynas, the only major proven producer outside China of rare earths, said its decision will allow it to consolidate its position as a preferred supplier.
Malaysia's energy and environment minister has delayed a visit to Australia to discuss rare earth miner Lynas Corp's storage of radioactive waste in the Southeast Asian nation, according to a ministry spokeswoman. Minister Yeo Bee Yin was due to meet Bill Johnston, Western Australia state's minister for mines, on Thursday to discuss the removal of the radioactive waste from Malaysia.
While defense applications are small compared to commercial uses, the military has been successful in creating “viable supply chains” across the industry and that makes it a high priority, Lynas Corp.’s Amanda Lacaze said in an interview in Chicago Thursday. Rare earths -- a group of 17 vital elements used in missile systems, electric-vehicle, computer screens and other tech devices -- have been thrown into the limelight after China signaled it may restrict shipments to the U.S. Lynas has been talks with the U.S. Department of Defense and the Defense Logistics Agency "pretty much for as long as I’ve been in the job and I’m thinking before that as well," she said.
With China threatening to curb exports of rare earth minerals, Lynas Corp is making an aggressive push for fresh business across the globe and billing itself as the best option for its customers to tap diversified supplies of the specialized materials. While Australia-based Lynas cannot match China's rare earths processing capability, it is hoping that its role as the largest rare earths miner and the largest processor outside of China will help it forge new relationships and fuel expansion projects. China last month warned it may curb exports to the United States of rare earths, a group of 17 minerals used in a plethora of military equipment and high-tech consumer electronics.
Malaysia's energy and environment ministry is seeking meetings with Australian officials in June to discuss ways to manage the radioactive waste from Lynas Corp's rare earth processing plant in Malaysia, a ministry spokeswoman said. "The discussions will be about the removal of the radioactive waste from Malaysia. The conditions (for Lynas) are intact," she told Reuters, referring to the conditions the ministry set in December for Lynas to remove its waste stockpiles before its operating licence can be renewed.
The government has prepared the steps it will take to use its stranglehold on the critical minerals in a targeted way to hurt the U.S. economy, the people said. The measures would likely focus on heavy rare earths, a sub-group of the materials where the U.S. is particularly reliant on China. China produces about 80% of the world’s rare earths, and an even higher proportion of the elements in their processed forms.
Back in 2010, China cut off exports of the minerals to Japan when the two governments were in dispute over ownership of some islands east of Taiwan. The truth, however, is that rare earths are a paper tiger. As we wrote last week, the 2010 case backfired spectacularly for China.
Malaysian Prime Minister Mahathir Mohamad said on Thursday that his country will allow Australian rare earths producer Lynas Corp to keep operating a processing plant in the country. Mahathir's comments remove the uncertainty that had been hanging over the future of Lynas' $800 million plant after Malaysia halted the process for renewing its licence because of waste disposal concerns. Lynas is the only significant producer outside China of rare earths, the name for a group of 17 metals used in batteries, computers, televisions and smartphones.
China is ready to use rare earths to strike back in a trade war with the United States, Chinese newspapers warned on Wednesday in strongly worded commentaries on a move that would escalate tensions between the world's two largest economies. President Xi Jinping's visit to a rare earths plant last week had sparked speculation that China would use its dominant position as an exporter of rare earths to the United States as leverage in the trade war. Rare earths are a group of 17 chemical elements used in everything from high-tech consumer electronics to military equipment.
A flurry of Chinese media reports on Wednesday, including an editorial in the flagship newspaper of the Communist Party, raised the prospect of Beijing cutting exports of the commodities that are critical in defense, energy, electronics and automobile sectors. The world’s biggest producer, China supplies about 80% of U.S. imports of rare earths, which are used in a host of applications from smartphones to electric vehicles and wind turbines.
The chief executive of Australian rare earth metals producer Lynas Corp said on Friday that feedback from the Malaysian government relating to its plans to move initial ore processes out of the Southeast Asian nation has been favourable. In a strategic growth plan to 2025 unveiled last Tuesday, Lynas said it intends to build an initial ore processing plant in Western Australia that would help it overcome political headwinds in Malaysia. The operating licence for Lynas' processing plant in the country, due for renewal in September, is under threat on concerns over waste disposal.
The latest market segment to take center stage in the U.S.-China war is the rare earths space. On Monday, Chinese President Xi visited a rare earths facility Ganzhou, Jiangxi province. Ganzhou is one of China's most rare earths-rich regions and, overall, the country dominates the export market for these minerals.
The plan also includes investing in its processing facility in Malaysia, where Lynas is facing problems in getting license renewals for its plant due to concerns over waste storage. The world's only major producer of rare earths outside China has been considering initial ore processing near its Australian mine. Malaysia's Prime Minister said in April that companies would need to clean raw materials in order to operate.
Rare earths producer Lynas Corp on Tuesday unveiled detailed expansion spending plans for A$500 million ($346 million) to boost production, placate Malaysian regulators and fend off a takeover attempt. Lynas laid out a strategic growth plan to 2025 that included building an initial ore processing plant in Western Australia that would help it overcome political headwinds in Malaysia where the operating licence for its processing plant, due for renewal in September, is under threat on concerns over waste disposal.
(Reuters) - Rare earths producer Lynas Corp said on Tuesday it plans on spending A$500 million ($345.50 million) by 2025 to boost production and establish an initial processing facility in Western Australia, ...
Rare earths producer Lynas Corp said on Monday it has signed a memorandum of understanding with Texas-based Blue Line Corp to set up a rare earths separation facility in the United States. The move comes as the United States, which is highly reliant on the world's biggest producer China for rare earths, is prioritising the sourcing of its own strategic minerals used in everything from consumer electronics to military equipment.