LYC +0.59%: the company hosted their AGM today which came with continued positive commentary around the rare earths market. Lynas said they now expect the demand for NpDr to grow 10% per year through to 2030, up from 7.5% as the growth in electric vehicles (EV) accelerates. Their products are also needed in a range of clean energy options – including wind power – with demand obviously on the up there as well. LYC is in the middle on building a processing plant in Kalgoorlie, WA, with today’s update showing it is on budget and remains on track for first production in mid-2023.
MM remains bullish & long LYC
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