lynas technical, page-6

PU Batou closed down for 4 months recently. Why? Because their production wasn't profitable I'd venture. (Other suggestions welcome.)
They have a heap of new environmental regulations that their legacy mines are struggling to adapt to.
So why assume that the Chinese will continue with low prices: to deplete their resources and lose money??
They want downstream manufacturers inside China, and hope the guarantee of supply will overcome disincentives such as the stealing of IP.
The LAMP was funded when the REE prices were well below current prices. Of course there's a risk that the LAMP will perform poorly but that's decreasing rapidly with reports of production and ramp up.
I agree the military is a small part of the picture (but a positive one).
I'm not sure about a boycott of Chinese REs but I'm confident that Japan, Korea, the EU and the US will all prefer ex-China RE when they are securely available at a reasonable price. Japan and Korea in particular won't want to be dependant on reliable China supply.
I'm not sure what your comment "there isnt much margin left" meant but I take solace from EN's comments in the last quarterly that Lynas will make a good profit at current basket prices.
The main concern I have is that there is a market for all of phase 2's production.