It’s not clear what will be done about Lynas’ radioactive wastes in Malaysia, as Lynas plans rare earths processing also in Texas
Lynas’ US plans no threat to Wesfarmers interest, Malaysian problems, https://www.smh.com.au/business/companies/lynas-us-plans-no-threat-to-wesfarmers-interest-malaysian-problems-20190507-p51kx2.html. By Colin Kruger – May 20, 2019 Lynas Corp’s plans to establish processing operations in the US are not expected to pose a threat to Wesfarmers’ interest in the rare earths group, but it won’t offer a Plan B for its Malaysian problems either.Lynas told the ASX on Monday it had signed a memorandum of understanding (MOU) with one of its US customers, Blue Line Corp, for a joint venture to separate medium and heavy rare earths elements in Texas. Lynas said it would be the majority owner of the venture…….
The company declined to comment further but Ms Lacaze will front investors on Tuesday and is expected to clarify plans to invest in processing infrastructure in Western Australia where it mines the rare earths at Mt Weld.
This will offset the sovereign risk of its billion-dollar Malaysian operations, which could be forced to close in September if Lynas does not remove more than 450,000 tonnes of low level radioactive waste.
The company had been in talks with Wesfarmers about a processing joint venture in WA last year which led to a controversial $1.5 billion bid by the conglomerate in March. Continue reading
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