Academy of Sciences Malaysia Report, page-4

Thanks, I actually did not know what Wesfarmers' interest was based on. Mt Weld was historically known as a significant phosphate deposit. Wesfarmers is taking care of a lot of businesses including significant chemicals and fertilizers.

Also they own Covalent Lithium - I had forgotten their post-Lynas "consolation prize" - a 50% venture with SQM ; possibly interesting Mt Holland potential thinking long term.

Might be I should pay a wee bit of attention to WES. Never have. I like pure plays - Lynas is my #1 position and by far my largest cap holding.

As for the license, I think it highly likely Lynas will get cooperation from legislators. It seems to me they gave them enough time, and with the tide of opinion certainly turning in Malaysia (citing at least the lack of an endless stream of SMSL publicity stunts, but there is also more positive press than negative since the decision to push C&L out). There might well be a bit of nationalism as pro-Chinese influences became clearer (imo at least) in recent politics and rare earths are in the Malaysian news. Lynas is the only answer to China. I honestly cannot imagine Malaysia shooting itself in the foot.

The real issue is the temporary removal of the ore import ban (which begins next month). The next issue will be the temporary removal of the July 1 condition on C&L. The transition is occurring in the middle of a pandemic. They can sell that if nothing else as a reason for delay. They cannot be so stupid as to allow the LAMP to go out. NOT EVEN DIMMED. I am thinking they might extract another 1% "royalty for royalty" somehow through all this.

The PURELY POLITICAL shenanigans that have already hurt a great business is a SHAME on their heads. argh. So frustrating what pollies get up to, but there can be trouble when it becomes evident the trouble was instigated by and preferential to a foreign power; that can make a difference their people can get behind.

From Malaysia: Economic benefits of rare earth (nst.com.my) OCT '22

EXCERPT:

"Inaccurate pronouncements on rare earth without due recourse to experts may deny such states the opportunity to inject new vigour into their economy.

It is time for people in authority, including radiation experts from the academia and the Malaysia Nuclear Agency, to come forward to put a stop once and for all to the ridiculing."

This issue is also getting a lot of press in Australia recently; both these were available and decent reads:
Lynas Rare Earths races the clock as it lobbies Malaysia on partial plant closure (copyright link)

Lynas: Malaysian government says decision on licence extension is imminent (copyright link)

EXCERPT: "Malaysian activists want the new government led by Prime Minister Anwar Ibrahim to stick with previous deadlines. These set a March 2 halt to ore imports by Lynas, and a mid-year stop to cracking and leaching at the company’s plant in Kuantan on Malaysia’s east coast."

Bloomberg makes it readable as well:
China-Linked Bots Attacking Rare Earths Producer ‘Every Day’ - Bloomberg (from an interview on ~26-aug-22)

EXCERPT: “We see bot posts on various social media every day, and we report them every day, and it’s quite frustrating,” Lynas Chief Executive Officer Amanda Lacaze said in an interview on Friday. “It’s very easy to see the bot posts and the messages are exactly the same.”

Although she also made a concise statement on demand from EV and wind turbines
“I think the chart goes from the bottom left to the top right with very little deviation from that trajectory,” she said, referring to the long-term demand outlook for rare earths.