Greencape Capital: WES actions raise governance issues

A major investor in Lynas Corporation has lashed out at Wesfarmers over its representations to the Malaysian government on the future of the rare earths miner and processor.

Greencape Capital’s Ryan Green said Wesfarmers’ actions raised governance issues, given it appeared to be making representations and promises to a foreign government about assets it did not own.

AFR: google: business/mining/lynas-investor-lashes-wesfarmers-over-dealings-with-malaysia-20190407-p51bqa

This relates to events described here and elsewhere for anyone not yet familiar with what has occurred:

Wesfarmers in talk with Malaysia over Lynas processing plant - The Australian
28 Mar 2019 · Wesfarmers has started direct discussions with Malaysian authorities over the regulatory impasse facing its 1.5 billion takeover target, rare earths producer Lynas.
In a move that could complicate Lynas’s own negotiations with Malaysia, Wesfarmers has begun flagging with Malaysia the potential solutions it could bring to the table if it gained control of the group.

https://www.theaustralian.com.au/bu...s/news-story/9fdeffc07a192a86cadee43870da4fbf

I will refrain from further comment on the LYC forum. I don’t know about you, but I’m morally outraged.

GLTAH.