Contract signed back in 2010.
"The contract price under the deal on announced Wednesday is the China FOB (free on board) market price for the product at the time of delivery, plus delivery costs to Japan from Kuantan in Malaysia where Lynas' rare earths will be processed at its advanced materials plant."
http://news.smh.com.au/breaking-news-business/lynas-signs-contract-with-japanese-buyer-20100929-15wob.html
China FOB price?
Better hope this contract is not major in size or LYC could well be having to operate at a loss imo, looking at current China FOB prices.
From memory this was a major contact, 3/4 of production?
"market price for the product at the time of delivery"
So what market price is Lynas setting?
Their own apparently from July 1?
Maybe not if this contract still stands and NC was telling the truth.
Anyone?
is lynas profitable at china fob prices?
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