I refer you to page 175 where it indicates that Lynas Africa Limited Malawi ML0122 granted on 18.5.2003 for Rare Earths expiry date was 16.10. 2018. This lines up with Lynas Jan 2019 announcement below.
Note as reported by Michael West Nov 2011:
"The High Court of Malawi has ordered that the Kangankunde tenements (KGK) in question – potentially a billion-dollar project – not be transferred (To Lynas) at all.
It has ordered that the rights to the rich rare earths deposit be returned to Michael Saner, a South African geologist who controlled the exploration licence in 2003.
Mines Ministry and Government are in contempt of the Malawi High Court.
The Commission of Mines acted against the law of the country in not renewing the licence in 2003.
The rights were awarded to Mr Patel contrary to the law, and the court has ruled on this.
Mr Patel is the middleman who on-sold the rights to KGK to Lynas."
"During the quarter ( F2018) , the Malawi government purported to cancel the group’s Malawi mining lease. In response, the group will initiate judicial review proceedings in the Malawi courts challenging that decision."
Refer to Lindian's Nov 2018 announcement which lines up to maybe why Lynas took action. Strange that it took so many years before initiating proceedings.
I cannot see this Lynas review going anywhere after nearly 4 years passage of time.
LIN Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
(20min delay)