Australian rare earths producer Lynas Corp Ltd posted an annual loss on Monday, hurt by a temporary coronavirus-linked closure of its Malaysian processing plant and lower market prices.
How does Lynas affect the environment?
Lynas has the potential to wreck our health and life due to its radioactive waste, which is contaminated also with toxic heavy metals and chemicals. Dilution and spreading out radioactive waste will expose more people and more places to its hazards.
What rare earths does Lynas?
Lynas is the world’s second largest producer of neodymium (Nd) and praseodymium (Pr), both light rare earths. Used together, they form NdPr, an alloy that’s present in a magnet inside the iPhone. Lanthanum (La) and cerium (Ce), two other light rare earths, make up over 70% of the Mt. Weld reserves.
Who owns Lynas mining?
Nicholas Curtis
Lynas
| Type | Public ASX: LYC |
|---|---|
| Founder | Nicholas Curtis |
| Headquarters | Sydney, Australia Kuantan, Malaysia |
| Area served | Australia, Malaysia, Singapore |
| Products | rare-earth metals |
Is Lynas overpriced?
At its current price of $4.254 per share and the market cap of $3.9 billion, Lynas Rare Earths stock gives every indication of being significantly overvalued.
Why are Lynas shares falling?
The price of neodymium (one of Lynas’ main products) has remained steady recently, so it doesn’t seem like commodity prices have been behind the drop in Lynas’ shares. It’s more likely that the situation between Australia and China has caused some uncertainty across the broader materials sector.
What is Lynas issue?
Toxic waste becomes a toxic issue The issue of Lynas’ radioactive waste has become politically toxic for the Mahathir-led coalition. Members of the opposition vowed to close the Australian plant. Now in government after last year’s shock election result, the ruling party extended the plant’s license.
Why does Lynas process in Malaysia?
For the past several years, Lynas keeps making headlines in Malaysia. This is due to the fear that this rare earth processing company is potentially endangering local communities, which has led us to question what rare earths are. Rare earth elements are also used in eco-friendly technology and medical devices.
Does Lynas have a DRP?
Lynas produced 1,393 tonnes of NdPr in the quarter, up from 775 tonnes a year ago. Its full product range garnered an average selling price of A$39.1/kg, up from A$20.2/kg last year.
Why is Lynas share price dropping?
The iron ore price has plummeted to around US$125 per tonne on the back of reduced steel output in China and Brazilian producer Vale ramping up its production. Lynas’ exports to China made up 10% of total sales in FY20, a number which has been falling over the past several years.
Is Pilbara Minerals a buy?
Pilbara Minerals (ASX: PLS) David Franklyn: We rate Pilbara as a buy. It’s our preferred lithium exposure. Basically, it’s in the right place at the right time. It’s a large-scale producer at a time when the lithium price is continuing to escalate.
Where is Lynas’s site?
Lynas says it has located a suitable site in the vicinity of Bukit Ketam, Pahang. In its statement, Lynas describes the site as “remote”; Ismail Bahari said the site “meets the requirements of the Atomic Energy Licencing Board and the recommendations of the IAEA”.
What does lynlynas do?
Lynas Corp. Ltd. engages in the production of rare earth minerals. It focuses on the exploration, development, mining, and processing of rare earth deposits. The company was founded by Nicholas Anthony Curtis on May 25, 1983 and is headquartered in Kuantan, Malaysia.
Is Lynas rare earths eyeing up BHP’s Nickel business?
It is understood Lynas has struck a deal for BHP’s resurgent nickel business to supply it with sulphuric acid, a key input in processing of rare earths. Lynas Rare Earths achieved record quarterly revenue as it battled to keep its Malaysian operations free of the COVID-19 outbreak.
Is Lynas rare earths set to benefit from the US President’s push?
Australian company Lynas Rare Earths has already benefited from the US President’s push to reduce dependence on China for critical minerals. Mineral sands miner Iluka Resources is attracting a lot of interest from investors after revealing big plans in rare earths, demerging its BHP iron ore royalties and paying back JobKeeper in the past year.
