|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||1.7100 - 1.7800|
|52 Week Range||1.0500 - 2.2900|
|Beta (3Y Monthly)||-0.57|
|PE Ratio (TTM)||28.36|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Malaysia's government said on Wednesday its decision last month to extend a licence for Australia's Lynas Corp for processing rare earth minerals aimed to show investors that the Southeast Asian nation was open for business and preserve 600 jobs. Some politicians within Prime Minister Mahathir Mohamad's ruling coalition had promised to halt the firm's operations when campaigning in the May 2018 election, after concerns were raised by politicians and activists about the production of radioactive waste from the process.
Australian rare earths producer Lynas Corp posted a 50% jump in annual profit on Thursday on record production, and said it is still to decide on a site for a planned heavy rare earths processing plant. Lynas, the largest rare earths producer outside China, reported net profit of A$80.0 million ($54.0 million) for the year to June 30, up from A$53.1 million a year ago. The result comes amid an increased focus on the sector's supply chain due to concerns that China may use its dominant position in rare earths as a tool in its trade war with the United States.
Malaysia on Thursday renewed the operating licence for a rare earths processing plant owned by miner Lynas Corp for six months with new conditions, an extension shorter than investors and industry analysts had expected. The Australian-listed firm is the only major proven producer of rare earths outside China, and the decision to renew its licence comes as markets are concerned that the industry may get embroiled in the trade war between Beijing and Washington. Under the conditions imposed by Malaysia, Lynas will have to identify a site for a permanent facility to store its low-level radioactive waste within six months or obtain consent from another country to take the waste.
Malaysia cannot force rare earths miner Lynas Corp to leave despite opposition from some people who fear the risk of radioactivity from waste at the firm's processing plant, the nation's state news agency cited the prime minister as saying. The Australian company has been running the plant in Malaysia since 2012 using rare earths mined from Mount Weld in Western Australia. The Malaysian government is expected to make a decision on renewing its operating licence by mid-August.
Malaysia plans to extend Lynas Corp's licence to operate a rare earths processing plant, though it could be for a shorter duration than the usual three years, two sources with direct knowledge of the matter said. The Australian company has been running the plant in Malaysia since 2012 using rare earths mined from Mount Weld in Western Australia, despite a dispute over the removal of low-level radioactive waste produced by the plant. A decision to extend the licence by a Sept. 2 deadline is important for the market for rare earths, as Lynas is the biggest producer outside China.
Lynas, the largest rare earths producer in the world outside of China, said in June it was stockpiling production of a major rare earth element, at a time when markets are concerned that Beijing may use the minerals as a weapon in its trade war with the United States. Sales revenue for the June quarter was A$87.5 million ($60.5 million), lower than the A$91.7 million it earned for the same period last year, the company said in a statement. Lynas sales were hit by a lower average selling price for Neodymium Praseodymium (NdPr), which is used to make permanent magnets for electric vehicles and wind turbines.
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.
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.
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.
(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, ...