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In an attempt to meet the increased Rare Earths demand around the world,
Lynas currently develops its mine and concentration plant at Mount Weld in
Western Australia and its Advanced Materials Plant for separation and refining in
Malaysia in two stages, Phase 1 and Phase 2.
Phase 1 project (total investment of AUD 540 million) is scheduled to begin
production in 3Q 2011 (11,000 tonnes per annum). Among the pre-production
Rare Earths projects around the world, it will be the first project to commence a
commercial production. Rare Earths products, such as Didym, Cerium and
Lanthanide, will be supplied to the Japanese market from September 2011.
Phase 2 project (total investment of USD 250 million) will expand production
capacities of Malaysian Plant (addition of 11,000 tonnes per annum). The
operation of the Phase 2 project is scheduled to begin in 4Q 2012 and the
products will be allocated to the Japanese market (total of 8,500 tonnes (?500
tonnes) per annum).
Rare Earths products, known as "The Vitamins of Modern Industry", are not only
applied for present usages, such as precise glass compound, exhaust gas
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catalyst, oil purification catalyst, fluorescent material etc., but are also expected
to be utilized in new fields where demand will increase to meet environmental
requirements, such as motors for electric vehicles, magnets for wind power
plants, etc.. Sojitz and JOGMEC believe that it is essential to secure a stable
source of supply of Rare Earths products as it will greatly contribute to the
long-term growth of the manufacturing industry in Japan.
Map
Structure Overview
JOGMEC Sojitz
Japan Australia
Rare Earths B.V.
Lynas
Corporation
Limited
Financing (Loan and Equity)
Availability Agreement
Investment
(USD 250 million)
Sole Distribution and Sole Agency Agreement
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Overview of Lynas
(1) Name: Lynas Corporation Limited (Listed on the Australian
Stock Exchange)
(2) Headquarters: Level 7, 56 Pitt Street, Sydney NSW 2000 Australia
(3) Representative: Nicholas Curtis
(4) Business activities: Lynas is a mine company operating in Australia that
conducts exploration and development of Rare
Earths and other mineral resources. It also
conducts planning, designing and construction of
concentration equipment and advanced material
processing plants
(5) Market Capitalization: Approx. AUD 3.6 billion (as of March 29, 2011)
(6) Major Subsidiaries: Mt. Weld Mining Pty Ltd (mining and concentration)
Lynas Malaysia Sdn Bhd (separation and refining)
(7) Ownership: Morgan Stanley & Co. 7.5%
GE Asset Management 2.9%
JP Morgan 2.7%
Overview of Sojitz
(1) Location: Akasaka, Minato-ku, Tokyo, Japan
(2) Representative: Yutaka Kase
(3) Incorporation: April 1, 2003
(4) Capital: JPY 160 billion
Overview of JOGMEC
(1) Location: Saiwai-ku, Kawasaki, Kanagawa, Japan
(2) Representative: Hirobumi Kawano
(3) Incorporation: February 29, 2004
(4) Capital: JPY 320 billion
For more information, please contact:
Sojitz: Public Relations Department 03-5520-4589
JOGMEC: Public Relations Division 044-520-8732