Spotlight on American Rare Earths, page-2720

Lynas linked to rare earths mega-merger as price falls bite (February 2, 2024, Source) — Amid a sharp decline in rare earths prices and concerns over Chinese trade restrictions, there are speculations that Lynas Rare Earths Ltd. (ASX: LYC) may be considering a merger with its New York-listed rival, MP Materials Corp. (NYSE: MP). Industry insiders suggest that the two companies, both leading non-China producers of essential rare earth materials used in defense and various industries, could be in talks to create a mega-merger. The exact details of the deal are unclear, given the current slump in rare earth prices and Western concerns about China’s dominant position in the supply chain. However, a potential merger between Lynas, based in Western Australia and Malaysia, and MP, operating in California’s Mountain Pass, aligns with efforts by the Australian and US governments to strengthen collaboration between their resource companies for critical minerals extraction and processing, reducing dependency on China. Both Lynas and MP have suffered significant stock price declines, and a merger could help them bolster production capabilities and meet growing demands, particularly from the US Department of Defense, which aims to reduce reliance on Chinese supplies. Referral, CMI Co-Chairman Jack Lifton QUOTE
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https://investornews.com/critical-minerals-rare-earths/technology-metals-report-02-02-2024-rumors-between-mp-and-lynas-tesla-ev-recall-the-rightsizing-of-critical-minerals-begins/