Bhp shut down all there steel processing in Australia years ago. Yet iron ore is mined in Australia and processed in china. Australia then buys the very ore that was mined back as steel. Cost of living and wages in Australia is sending business to Asian developing countries. Unions continualy strike and cripple australian industry. This is Malaysian and other countries advantage. This is when you stand to prosper? 12 year tax break of course thats going to be an incentive? The concentration plant is in Australia as the cost of shipping untreated ore would be to expensive. If Mt Weld was in Malaysia the concentration plant would be there as well. Its extremely easy to look for the devil in buisness. Its alot harder to find the truth if you dont understand the science. Developments in Health, safety and environment far exceed the standards that were around when Australia had its industrial age. The loss of the lamp will hurt malaysia far more then it will hurt the rare earths industry.
LYC Price at posting:
$2.16 Sentiment: Hold Disclosure: Held
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