Ann: Lynas Announces $500M Mt Weld Expansion, page-12

Most significant statement here is not merely confidence in the broader NdFeB mkt but Lynas confidence in its handful of direct customers, specifically the Japanese magnet producers.

Board would not have signed off on this major expansion without deep consultation with the 3 or 4 primary customers to the point they were confident demand growing beyond 10.5ktpa in the next 3yrs or so.

Lynas isn't speculating, as are the dreamboats, it's working closely with the only real ROW NdPr customers for the foreseeable future, invaluable.

Unspoken but based on the presumption LAMP will be processing most of this additional material it suggests the Board has a renewed confidence in Malaysia, but that's a reveal yet to come, in fact we have no info as yet on the expansion to 10.5ktpa let alone 14ktpa & beyond.