News: ARR UPDATE 6-China bans export of rare earths processing tech over national security, page-36

Lynas owns the refinery in Malaysia, and are building one in US contracted with DoD.

They have been selling concentrate to China as they were the only refiners with enough scale. Lynas Malaysia plant is the only scale refiner outside china

lynas grade is so high, the cost to produce oxides from the concentrate is less than the average ionic estimated separation costs on a per kg oxide basis.

will ARRs separation require high strength ph0 acid or a mild ph4? Ph0 will destroy economics at around $50per kg of oxide processing plus waste management. Ph4 is around $10 per kilo with much easier waste management.

the acid leach requirements will drive the value of the concentrate and the project.

I'm taking a punt on favourable acid leach confirmation, but until that there is no guarantee the project has positive economics at current ndpr oxide price.