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16:26
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Originally posted by toly:
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I really enjoyed the QR and in particular I paid close attention to the progress in the US venture. Some friends and MP supporters are convinced that the project is to be constructed by Lynas and turned over to the US government with some pretty complicated negotiating. I was under the impression that the US venture was to be a 100% Lynas owned venture but I wanted to make sure my information was correct. To that end I sent the questions to my contact at Lynas and I cut and pasted the questions and answers below…First of all, we were wondering if the US venture will be a 100% Lynas owned entity or will there be some sort of share agreement with the government? “The U.S. facility will be a commercial rare earths processing facility owned and operated by Lynas. The grant funding from the DoD is to support the development of a U.S. rare earths supply chain and strengthen supply chain resilience.” Also, Amanda mentioned that work on the heavy facility will beak ground before the end of the year. We were wondering about the estimated construction time and estimated time of completion… “As noted in the recent quarterly report, earthworks are expected to commence at the Seadrift site by calendar year end, subject to all necessary approvals being in place. As previously advised, the Facility is targeted to be operational in FY2026 (1 July 2025 - 30 June 2026).”
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Hey Toly, thanks for your post, you've made some good points, though one I didn't understand: ...MP Materials turned down the grant because they didn’t not want to commercial... What do you mean by 'didnt want to commercial'?
(20min delay)