LYNAS - A CASE STUDY IN THE RISKS OF AUSTRALIAN OFFSHORING, page-8

No TT, you are not missing anything, just Lynas has not made that bit clear yet as the rationale & funding for primary SX are somewhat contingent on DoD tender success despite the fact the underlying economics are totally commercial.

That article is full of self interested American comments that are so typically bottom up, despite the VERY clear top down approach of the complete tender package, totally different to the myriad RE reports past decade.

Typically not a single mention of economic viability in what is effectively a chain of small businesses all the way thru to magnets, competing with dominant State sponsored product all the way. Success of this project will be determined top down NOT bottom up, a US industry has to have the right policy settings to compete with the Dragon, then competitive economics right thru the supply chain, no place for wannabes & their science experiments.

TMRC comment classic, apparently in complete ignorance that Lynas has been uniquely producing a HRE product ROW for the past seven years, ~$10kg CoP, that alone puts them light years in front of any wannabe.