Lynas/Industry News, page-23

Most important one is already done mid Jan with a return to the 600tpm NdPr run rate, LAMP operates far more cost efficiently at design rates.

License renewal will signify PDF approval which no doubt will prompt a fresh application for production uplift, suspect they'll be planning to operate H1 at design rates in expectation of a positive outcome.

The big step change in recoveries came with LynasNext, from what I understand further improvements NdPr will be incremental but there is plenty of scope LaCe dependent on value adding and building ROW mkts via producing LRE products to customer specification, incl much higher value Cat Lean, refer Lynas 2025 presentation.

Typical RE conundrum, recovery value LaCe needs to be raised to be economic, but if you can value add to the point that warrants recovery, your fixed costs are spread over those additional kg's produced. ATM there is a lot of Ce, less La, reporting to tails, last mention there was 16 or 18 LRE products being produced, blends incl La, Ce, Pr & Nd, all to customer specification.

Important aspect of the business that has received a lot of effort behind the scenes for several years, and a key aspect of maximising returns, particularly as China constrains domestic pricing.

That will be ongoing as they identify & develop ROW mkt for product, much as they are now working to stimulate additional ROW magnet making capacity to absorb the current levels of NdPr production.

What has to be encouraging is the growing levels of investment in ROW motor manufacture, in addition to VW's 500k units in Germany/900k units in China, NIDEC just released ambitious plans to capture 35% traction motor mkt with equal investment ROW & China:

The investment will be divided into three plants:

• Dalian, China: from 2021, 100 billion yen ($910 million) investment (up from 55 billion yen planed initially), 3.6 million electric motors annually
• Poland: from fiscal 2021, 50 billion yen ($455 million) investment, 2.4 million electric motors annually
• Mexico: from fiscal 2023, 50 billion yen ($455 million) investment, 2.4 million electric motors annually

In total, those three new facilities will be able to deliver up to 8.4 million electric motors per year. Combined with current production and joint ventures, it would be probably 10 million.



https://insideevs.com/news/398006/nidec-three-electric-motor-plants-evs/

There should be no shortage of ROW demand to warrant investment in ROW magnet making capacity, we wait to see if Malaysia wants to be a serious player in that supply chain.