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LYC, LYNAS CORPORATION LIMITED
blacksheep
post Posted: Nov 8 2019, 12:05 PM
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Lynas hunts for Malaysia waste storage site as deadline looms
Reuters | November 7, 2019 |
QUOTE
Lynas Corp is working to select a site in Malaysia’s Pahang state to build a storage facility for low-level radioactive waste as a March deadline nears, the CEO of the rare earths miner said on Thursday.

The Australian company has an approval letter from the Pahang state government to locate a permanent disposal facility (PDF) in the state, where Lynas’ processing plant is located.

“Now it’s the requirement for yes, (we) can locate the PDF at such and such address,” Lynas CEO Amanda Lacaze said.

Malaysia issued Lynas with a six-month licence renewal — shorter than the usual 3 years — on Sept. 3, while also setting new conditions for Lynas to meet to continue operating in the country.

“We have a set of conditions, we have a timeline to meet, we are focused on meeting those conditions…so that we can all move on,” Lacaze told Reuters on the sidelines of an industry conference. “Six months is not a long time.”

Lynas, which has been operating an $800 million plant in Malaysia since 2012, is the only major proven producer of rare earths outside China.

On Monday, Malaysia’s Prime Minister Mahathir Mohamad told reporters that his Australian counterpart Scott Morrison had asked for Malaysia to drop the conditions on Lynas.


“We were as surprised as anyone else when we read what the prime minister had to say,” Lacaze said.




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 5 2019, 09:18 AM
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In Reply To: blacksheep's post @ Oct 9 2019, 01:40 PM

Lynas and Malaysia ink deal to sell rare earth waste, attract costumers
Cecilia Jamasmie | November 4, 2019 |

QUOTE
Australian rare earths miner Lynas Corp (ASX: LYC) has signed a memorandum of understanding with a Malaysian government agency to collaborate on several key projects, including attracting downstream industries and customers to the South East Asian country.

Under the agreement, Lynas, the world’s largest rare earths producer outside China, will also work with state agency MARA Corporation to commercialize certain waste residues from the company’s plant for use in agriculture

The agreement represents a welcome sign of support from local authorities to Lynas’ operation in Malaysia, where the company has faced intense pushback from green groups. Most of the claims against the miner are linked to environmental concerns over low-level radioactive waste management and disposal at Lynas’ plant in Kuantan.

Late last year, Malaysia’s Atomic Energy Licensing Board (AELB) told Lynas it had to remove 450,000 tonnes waste stockpiled at the local facility by Sept. 2., when the company’s license was up for renewal.

The government, however, extended in August the firm’s license, a move that sparked protests from activists and politicians even though it set tougher terms and gave it only six extra months.

The Sydney-based miner has already committed to build a first-stage processing plant in one of two preferred sites in Western Australia, where its Mt Weld mine is located. Downstream processing activities, however, will remain in Malaysia.

The need for a decision, so far pointing at Kalgoorlie as the place to build the cracking and leaching plant, was accelerated after the government gave Lynas four years to have it ready or else see its license revoked.

Lynas is also sweating on a permit to increase imports of concentrate. Tat material is separated at its $800 million plant into elements that are vital for the making of permanent magnets used in electric vehicles, energy efficient consumer devices, as well as in the aerospace and defence industries.

The company recently flagged a possible scaling back in production into the year-end, pending the import license.

It also disclosed that it had been stockpiling output amid concerns that Beijing would stop exporting rare earths to the United States, which imports about 80% of its needs from China.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 9 2019, 01:40 PM
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QUOTE
Rare earths miner slams 'complicit' manufacturers over China predicament

QUOTE
Ms Lacaze said China's domination of the supply chain came from a concerted effort by its government and industry.

"Thirty years ago China was not in this position. Chinese industry had the resource, but not the downstream steps," she said.

"With government policy targeted at delivering significant value to the Chinese economy and jobs in the high employment downstream steps, China has executed an integrated strategy with discipline and much success."

She said the rest of the world's supply chain was 'fragmented' and pointed the finger at European and US manufacturers who had put their own businesses at risk for the sake of cheaper materials.

"For three decades, outside-China manufacturers, especially in Europe and the US, have been complicit in supporting a strategy that has delivered a concentrated and at times distorted market, which can ultimately threaten their businesses," she said.
The risk created by this distorted market will only increase as applications continue to grow."

In order to combat China's advantages, Ms Lacaze said countries such as Australia and the US could learn from it.

"China has given us a perfect case study of how governments can support the rare earths industry, they put their support behind a few large players and have insourced the technology to be successful," she said.

"Outside China the market is distorted and open to influence, therefore simply relying on market forces is unlikely to be successful. Support for industry may come in the form of funding or it may be in the form of policy support.

"I would argue the key role of government is to provide a stable operating environment and to implement policies that support industry growth."

read more https://www.smh.com.au/business/markets/rar...008-p52yu2.html



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Aug 29 2019, 02:02 PM
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In Reply To: nipper's post @ Aug 29 2019, 12:36 PM

QUOTE
Lynas Corporation says two Malaysian companies are interested in building a chemicals plant in Western Australia to support new early stage processing facilities that the rare earths producer expects to cost the best part of $500 million.

Lynas has four years to have a new cracking and leaching plant up and running under strict Malaysian government conditions around its operating licence in that country.

The WA plant, earmarked for either Lynas’s Mt Weld mine near Laverton or the gold mining hub of Kalgoorlie, will remove low level radioactivity from rare earths material before it is sent to the company's $1 billion processing facilities at Kuantan on Malaysia’s east coast for further processing.

Managing director Amanda Lacaze said the cracking and leaching plant would be built with the capacity to process concentrate from third-party sources as a number of new players look to enter the rare earths space where Lynas is the only significant supplier outside China.

She said Lynas had a watching brief on emerging rare earths miners in Australia and it was prudent to build the cracking and leaching plant with the capacity to handle material from sources other than Mt Weld.

AFR

not sure this is win win for WA



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 29 2019, 12:36 PM
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QUOTE
Increased global significance of Rare Earths positions the Company for continued growth

• NPAT of $80.0m (FY18: $53.1m)
• EBIT of $56.4m (FY18: $81.0m)
• EBITDA of $100.7m (FY18: $121.9m)
• Revenue of $363.5m (FY18: $374.1m)
• 365 days LTI free at Lynas Malaysia
• Record total REO production of 19,737 tonnes (FY18: 17,753 tonnes)
• Record NdPr production of 5,898 tonnes (FY18: 5,444)
• Cash flows from operating activities of $104.1m (FY18: $118.5m)
• Total Group debts reduced to $193.0m (FY18: $225.1m)
• Lynas NEXT project successfully completed and Lynas 2025 growth plans announced
• External recognition of excellent sustainability and WHS performance

- still has the spectre of peremptory Malaysian action hanging over it



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 22 2019, 07:55 PM
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In Reply To: blacksheep's post @ Aug 16 2019, 11:28 AM


QUOTE
22 August 2019
Proposal to acquire Lynas Corporation – Update
On 26 March 2019, Wesfarmers announced that it had made a conditional, non-binding indicative proposal
(Proposal) to the Board of Lynas Corporation (ASX:LYC) to acquire Lynas for $2.25 a share, payable in
cash, pursuant to a scheme of arrangement. The Proposal was subject to a number of matters including:
 Completion by Wesfarmers of its due diligence investigations;
 Negotiation and execution of an implementation agreement, for approval by both Boards;
 Ensuring that relevant operating licences in Malaysia are in force and will remain in force for a
satisfactory period following completion of the transaction; and
 Securing regulatory and Lynas shareholder approvals, and other customary conditions.
Wesfarmers notes Lynas’ announcement on 16 August confirming the conditions for renewal of the
operating licence for the company’s LAMP facility in Malaysia. Notwithstanding this development,

Wesfarmers has been unable to progress its Proposal and does not intend to pursue it further.

Wesfarmers Managing Director Rob Scott said: “Wesfarmers remains focused on delivering value to its
shareholders through disciplined capital allocation within our divisions and when considering new
investments.”




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


blacksheep
post Posted: Aug 16 2019, 11:28 AM
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In Reply To: blacksheep's post @ Aug 15 2019, 03:04 PM

Confirmed - another 6 months https://www.asx.com.au/asxpdf/20190816/pdf/...jq6hll3j335.pdf

QUOTE
16 August 2019
MALAYSIAN GOVERNMENT ANNOUNCES RENEWAL OF OPERATING LICENCE
• Renewal of Lynas Malaysia’s operating licence confirmed
• Cracking & Leaching to be relocated to Western Australia
• Approval of PDF location for WLP residue required within 6 months
• Long term solution for NUF residue confirmed by regulator

Lynas Corporation Limited (ASX:LYC, OTC:LYSDY) is pleased to confirm that the
Malaysian government has announced that Lynas Malaysia’s operating licence will be
renewed by the due date of 3 September 2019.
Following extensive consultation with the Malaysian government and regulators, we
confirm that:

1. Lynas Malaysia’s operating licence will be renewed
The Malaysian government has announced it will renew the Lynas Malaysia operating
licence for an initial period of 6 months.
Lynas Malaysia is required to fulfil certain conditions during that period, as summarized
below.
2. Cracking & Leaching relocated to Western Australia
As announced on 21 May 2019, Lynas will relocate Cracking & Leaching, the first stage
of its operations currently located in Malaysia, to Western Australia as part of the Lynas
2025 growth plan.

Under the new licence, Lynas is required to complete the relocation within 4 years.
Once the transition to Western Australia is complete, WLP residue will no longer be
produced in Malaysia.

3. Lynas to build Permanent Deposit Facility (PDF) for WLP residue
Lynas Malaysia is required to obtain consent for the location of a Permanent Deposit
Facility (PDF) for WLP residue within 6 months. Lynas Malaysia is confident of satisfying
this condition. Lynas will accelerate planning and construction of the PDF.

This is consistent with the recommendation of the Pakatan Harapan government’s
Executive Review Committee in December 2018.
Alternatively, Lynas can obtain consent from another country to receive the material.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 15 2019, 03:04 PM
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In Reply To: blacksheep's post @ Aug 6 2019, 09:41 AM

QUOTE
The sources, who declined to be named ahead of a government announcement expected by mid-August, told Reuters that the precise duration of the extension was not yet finalised.


Must be getting close to that announcement??

News article below dated 14 August suggests....

QUOTE
Sahabat Alam Malaysia is extremely concerned by news reports that the government has decided to allow Lynas to continue operating its plant for at least another six months.

This is despite the fact that the company has not safely disposed of its hazardous radioactive wastes, either by exporting them or by already placing them in a suitable permanent disposal facility.

https://aliran.com/civil-society-voices/put...nas-operations/

total short positions @ 9/8/19 = 2.54%
https://www.shortman.com.au/stock?q=lyc
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 9 2019, 03:01 PM
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Posts: 6,603
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In Reply To: blacksheep's post @ Jul 21 2019, 07:38 PM

Updated chart. SP currently $2.93 - up 4.27%

Total short positions as at 15th July, 2019 = 2.22%
Total short positions as at 5th August 2019 = 2.83% - some still betting on NOT so good news out of Malaysia?
https://www.shortman.com.au/stock?q=lyc

QUOTE
The status remains as set out in our Quarterly Report released on 29 July 2019. We
await formal notification from the Malaysian government regarding the conditions for the
renewal of Lynas Malaysia’s operating licence. The Deputy Minister of MESTECC stated
on 9 July 2019 that the decision will be made by Cabinet and announced in mid-August
2019
.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 6 2019, 09:41 AM
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Posts: 6,603
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In Reply To: blacksheep's post @ Jul 21 2019, 07:38 PM

According to AFR - Malaysia plans to extend Lynas licence: reports
QUOTE
Kuala Lumpur | Malaysia plans to extend Lynas'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

QUOTE
The sources, who declined to be named ahead of a government announcement expected by mid-August, told Reuters that the precise duration of the extension was not yet finalised.


https://www.afr.com/companies/mining/malays...20190805-p52e5t



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
 


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