Now we have more friction in the US rare earth industry, which only strengthens Lynas' position worldwide.
Seems MolyCorp, which got environmental exemption shortcuts, is now actively opposing other competitor companies getting mining approvals. Whilst this behaviour is no surprise (in the land on fair play) it now appear to be backfiring.
It seems the rare earth legislation that went through the US senate included up to $280 Million in loan guarantees - it was assumed by analysts that MolyCorp would secure this funding.
Now it appears there are other companies vying for funding and to add to the pain the Senate in the end didn't follow through with the loan guarantees.
In addition the bickering could attract attention by the general public which may question the short cutting of environmental impact assessments for MolyCorp.
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