free trade? one firm begs to differ., page-31

Fascinating subject BD, the more you look at the existing and projected supply/processing gap for Eu, Dy & Tb it's hard to imagine Lynas have not identified this and seen it as a huge opportunity for some time.

When you say "toll treatment company" that suggests processing for a fee but given there should be a choice of concentrates available and Lynas is in the box seat with off take agreements wouldn't they be more likely to purchase concentrate and capture the full processing margin? Concentrate suppliers may not have a lot of options and this is one of the reasons I have not diversified much outside Lynas although CUX is one that could produce a HRE concentrate quite quickly & cheaply. Did you have a look at any detail in their last Ann?

Apart from LAMP S3 there is also the Siemens JV hanging over Malaysia and I'm sure Siemens is watching with great interest. Malaysian Govt should be well aware that if the mess the LAMP around much longer they run the risk of losing Siemans.