Wonder where they are going with this?, page-36

Indeed Jantimot – “What contract or agreement?” But consider the following:

While licensing provides assurances for the government with regard to matters of public safety it doesn’t provide any assurances for Lynas (or its lenders) with regard to their investment.

As an ex-banker myself I would definitely require to see binding agreements between the government and Lynas, in favour of Lynas, before risking a few hundred millions of loans.

So then, the first step for Yeo is to have the new conditions officially added to the licensing requirements. Presumably some kind of Executive Order would need to be issued from Yeo’s department. (Not from AELB: Their main job is to check on compliance and enforcement – give expert advice perhaps but not actually make the rules)

There is some confusion here – has an official instruction or Executive Order been issued at all? (Is there actually anything to appeal?!) Lynas isn’t sure either by the wording in their announcement on 3^rd January. MESTECC just did a press release and AELB acted as a post box. Sensibly, Lynas appealed anyway to cover the bases and flush this out. The application to appeal will clarify these things, force a justification and provide proper detail of the new requirements, if they exist.

It may well be that Yeo tried on a bluff and hasn’t issued official instructions thus (may be) explaining a delayed response. Has due process been followed? What’s to stop unreasonable changes and additions to license terms? (E.g. Amanda must win the London Marathon!), what do the original agreements say on disputes and arbitration, etc. AELB may well be running in circles and asking: “Where’s our authority on enforcing these changes and having an appeals hearing?”

Furthermore, has Yeo properly consulted with Cabinet or other affected ministries regarding the far reaching consequences of her proposals? She doesn’t seem to be getting any support from those that matter – in fact it’s a spooky silence. I expect that affected other ministry jurisdictions will be up in arms and demanding explanations – of which Yeo doesn’t have any. What a monumental mess!

Yeo will most likely be scrambling around for a face saving way out of this embarrassment – prepare for another announcement - “it has been decided to negotiate with Lynas”.

Bottom Line: One way or the other the LAMP will not be allowed to be shut down.