LYC 1.39% $6.56 lynas rare earths limited

What a rant!! I'll ignore the insulting garbage full of gross...

  1. 1,116 Posts.
    lightbulb Created with Sketch. 747
    What a rant!!
    I'll ignore the insulting garbage full of gross generalisations based on nationality.

    The small portion relevant to Lynas and the Malaysian govt is either ignorant or deliberately misleading.
    Lynas had permitting to set up the LAMP in WA but were invited/lured to Malaysia on the basis of
    - Availability of water and chemicals,
    - Skilled local workforce and
    - Tax concessions.
    Their plans were open and approved to the highest environmental standards. That's independently verified in their gold Ecovadis and Together for Sustainability accreditation. Google them.
    The residues of (minor) concern were to be turned into soil conditioner with a similar level of radioactivity as imported fertilizers.
    All this was open and subject to suitable permitting and scrutiny before the LAMP was built at a cost of about $1bn.

    What's the reality of the Malaysian experience? They haven't kept their word and goalposts have constantly changed:
    - Condisoil successfully tested then blocked by the minister and further research banned,
    - $100m storage facility imposed,
    - Arbitrary limits imposed on the amount of concentrate they can import,
    - Forced closure of nearly half of the huge plant,
    - Endless enquiries (IAEA & several parlimentary) all gave them a tick and these conclusions were then routinely ignored.

    The problem isn't Lynas (or Western) arrogance and high handedness but a basic lack of basic good faith from the Malaysian govt.
    Lynas were offered a deal. It was accepted in good faith after appropriate scutiny by both sides.
    Lynas have kept their side of the deal and the Malaysian Govt have repeatedly broken theirs.



 
watchlist Created with Sketch. Add LYC (ASX) to my watchlist
(20min delay)
Last
$6.56
Change
0.090(1.39%)
Mkt cap ! $6.131B
Open High Low Value Volume
$6.53 $6.58 $6.51 $14.95M 2.285M

Buyers (Bids)

No. Vol. Price($)
1 1500 $6.54
 

Sellers (Offers)

Price($) Vol. No.
$6.56 6919 1
View Market Depth
Last trade - 16.10pm 03/05/2024 (20 minute delay) ?
Last
$6.55
  Change
0.090 ( 1.39 %)
Open High Low Volume
$6.53 $6.58 $6.51 732559
Last updated 15.59pm 03/05/2024 ?
LYC (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.