Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Can we please have MM's updated views on LYC following the 14.02.23 announcement with respect to renewal of LYC's operating license with no changes to the more recent licence conditions (and 16.02.23 appeal announcement). The 14.02.23 announcement states that "If not removed by 1 July 2023, these conditions will require the closure of the cracking and leaching component of the Lynas Malaysia plant." Thanks Darren
Hi Darren,
The announcement was as expected, no new news and probably a relief if anything that the conditions weren’t brought forward.
Lynas is currently building a replacement plant in WA with plans to have it up and running when the ban comes into effect. There is some risk around the timing here, however, we expect only a minor delay to revenue if the project is delivered later than planned.
Overall, the rare earths market is experiencing massive demand support with no signs of slowing. Prices remain buoyant and Lynas is a key supplier outside of China.
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