“The Biden administration soon after awarded $351 million to Australia’s Lynas Rare Earths to build a facility in Texas that would also produce samarium.Mr. Litinsky said the market for samarium was so small that it would be uneconomical to have two producers in the United States. So MP never installed its samarium processing equipment, which is still in storage.But Lynas never built its Texas factory, after a permit it had for rare earth mining in Malaysia that was in limbo was eventually renewed. Lynas did not respond to emails and phone calls for comment.MP is willing to install its samarium processing equipment now only if promised better financial terms by customers, Mr. Litinsky noted. “We felt very burnt by the whole thing,” he said”. https://www.nytimes.com/2025/06/09/business/china-rare-earth-samarium-fighter-jets.html Lynas did not respond ….hmm. Actually we shouldn't be surprised. But why doesn’t Lynas respond, anyone?
LYC Price at posting:
$9.37 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)