LYNAS - auf dem Weg zu einem Rohstoffproduzent von Hightech-Rohstoffen (Seite 5358)
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Wer spricht malayisch?
http://themalaysianinsider.com/index.php/bahasa/32286-pendud…
was weiss der malaysische insider mehr als wir?
http://themalaysianinsider.com/index.php/bahasa/32286-pendud…
was weiss der malaysische insider mehr als wir?
Morgen um 09.00 Uhr früh (MYT=+6.0h MESZ) gibt es einen aktuellen Bericht über die geplante Aufbereitungsanlage in Malayasia.
Warum und ob etwas Neues zu berichten gibt...?
July 20
1. Media briefing on Lynas Malaysia Sdn Bhd’s project in Gebeng at PJ Hilton, Selangor at 9am.
Den Kurs wird es sicher beeinflussen morgen. Es gibt ja sonst keine Nachrichten.
Ein schönes Wochenende.
Warum und ob etwas Neues zu berichten gibt...?
July 20
1. Media briefing on Lynas Malaysia Sdn Bhd’s project in Gebeng at PJ Hilton, Selangor at 9am.
Den Kurs wird es sicher beeinflussen morgen. Es gibt ja sonst keine Nachrichten.
Ein schönes Wochenende.
Antwort auf Beitrag Nr.: 37.583.578 von Fuenfvorzwoelf am 16.07.09 10:52:46Australia nods one Chinese investment proposal per week(Xinhua)
Updated: 2009-07-15 11:55 china daily
The Australian federal government is approving Chinese investment proposals at the rate of more than one a week, Treasurer Wayne Swan said on Tuesday.
Most of the proposals raised no issues for Australia's national interest, said Swan, who held a positive view of the investment relationship between the two nations.
"We recognize that China has an interest in ensuring that we are able to supply the resources that it requires to fuel its continued economic growth," he told the Australian National University's China Update Conference in Canberra.
"Australia has an interest in expanding its capacity to supply those resources," Swan said.
The government was "particularly attentive" to any case in which a proposed investor in a resource was also a buyer of the resource.
"Certainly this has been the case with some recent Chinese investment," he said.
Australia's investment screening arrangements ensured Australia and China maintained a complementary and strategic investment relationship which delivered "significant win-win benefits" for both countries, he said.
Swan rejected suggestions that the government was seeking to tighten its foreign investment screening regime.
http://www.chinadaily.com.cn/bizchina/2009-07/15/content_843…
Updated: 2009-07-15 11:55 china daily
The Australian federal government is approving Chinese investment proposals at the rate of more than one a week, Treasurer Wayne Swan said on Tuesday.
Most of the proposals raised no issues for Australia's national interest, said Swan, who held a positive view of the investment relationship between the two nations.
"We recognize that China has an interest in ensuring that we are able to supply the resources that it requires to fuel its continued economic growth," he told the Australian National University's China Update Conference in Canberra.
"Australia has an interest in expanding its capacity to supply those resources," Swan said.
The government was "particularly attentive" to any case in which a proposed investor in a resource was also a buyer of the resource.
"Certainly this has been the case with some recent Chinese investment," he said.
Australia's investment screening arrangements ensured Australia and China maintained a complementary and strategic investment relationship which delivered "significant win-win benefits" for both countries, he said.
Swan rejected suggestions that the government was seeking to tighten its foreign investment screening regime.
http://www.chinadaily.com.cn/bizchina/2009-07/15/content_843…
Race for Rare Metals – And China Is Winning!
by Sam Kiri
The recent G8 Summit in Italy ended with one important concluding note. As President Barack Obama summarised, “For us to think we can somehow deal with some of these global challenges in the absence of major powers like China, India and Brazil seems to me wrongheaded.” A well-timed thought as it is clear that the role played by these nations in the world economy is gaining prominence.
In the resource sector, China has already made its mark not only as one of the largest consumers but also as one of the largest accumulators of commodities. Chinese policy makers have ushered in an environment in which state enterprises, as well as private companies, are seeking to secure resource supplies around the world. It was against this backdrop that China Investment Corporation (CIC), a Sovereign Wealth Fund, acquired some 17% of Teck Cominco.
Copper is not the only metal China seeks to control and Teck is not the only acquisition China has made in the resource sector. In what could be a further indication of China’s tightening grip on the supply side, the China Non-Ferrous Metals Mining (Group) Co., Ltd. (CNMC) recently acquired a controlling interest in the Australian rare earth project developer Lynas Corporation Ltd. (Lynas). The full transaction, comprising a combination of equity, debt and loan guarantees, is valued at US$366 million and provides a glimpse of what rare metal companies are really worth.
Interestingly, CNMC is not the only government sponsored rare metals investment company. The Jiangsu Eastern China Non-Ferrous Metals Investment Holding Co. Ltd. (JIH), a unit of East China Exploration & Development Bureau, agreed to acquire a 25% stake in Arafura Resources Ltd., a gold and mineral mining company, for A$24 million, in February 2009. Arafura has a rare earth and phosphate deposit in its Nolans project.
Against this backdrop, one has to draw the attention to the ownership structure of these acquisitions and investments. Both CNMC and JIH are owned by the Chinese government and are established to ensure that China has interests in nonferrous metals both at home and abroad.
These investments clearly indicate that China is aggressively securing rare metal deposits around the world. Given China’s massive consumption of rare metals, their desire to secure supply sources makes sense. The concern however is their continued acquisition would enable them to control both supply and prices thus leaving the rest of the world at their mercy!
These investments clearly indicate that China is aggressively securing rare metal deposits around the world. Given China’s massive consumption of rare metals, their desire to secure supply sources makes sense. The concern however is their continued acquisition would enable them to control both supply and prices thus leaving the rest of the world at their mercy!
According to the EU, for several years China has applied export restrictions (quotas and export duties) to key raw materials of which China is the leading extractor and exporter. Such restrictions naturally distort competition and increase global prices as some of these resources cannot be found elsewhere. While the recent complaint has only been on coke, bauxite, fluorspar, magnesium, manganese, silicon metal, silicon carbide, yellow phosphorus and zinc, this development provides a foretaste of future developments in other metal markets as well.
In addition to the traditional rare earth metals, other strategic metals such as tantalum are now assuming increasing importance. Tantalum is primarily used in the production of electronics capacitors which find their way into cell phones, DVD players, personal computers, digital cameras, gaming platforms, LCD monitors and wireless devices. It is currently produced by only a handful of suppliers. As China tightens its grip over rare metals with foreign asset purchases and export restrictions, the investment case for tantalum companies is also expected to gain recognition.
Given these developments, it is worthwhile highlighting Canadian Venture and Frankfurt listed Commerce Resources Corp. (TSX.V: CCE, Frankfurt: D7H) which is one of the most active tantalum explorers. A significant exploration and development programme is currently underway at the Upper Fir deposit of its Blue River Tantalum/Niobium Project. The company’s competitive advantage lies in the fact that its projects are located in Canada, an area with low political and currency risk as compared to other world supplies.
The Upper Fir deposit has approximately 14 million tonnes of indicated and 19 million tonnes inferred resources. The project is expected to have a long-term mine life of over 20 years and due to being in carbonatite host rock could potentially be one of the lowest cost producers. Its proximity to the US makes it even more attractive.
We have highlighted on many occasions the power shift to China in the resource sector and the growing need for other industrial nations to seek alternative supply sources for themselves. Once supply sources are firmly secured, China will be able to determine both material prices and their export destinations. The fact that most of these investments are by state-funded entities such as CNMC makes the situation particularly precarious. At the far end of the pessimism, it will be a situation similar to oil supplies which are controlled by a handful of countries. The race has begun to secure supplies of rare metals. Investors should be positioning themselves at the starting line and taking a look at companies with proven deposits such as CCE.
by Sam Kiri
The recent G8 Summit in Italy ended with one important concluding note. As President Barack Obama summarised, “For us to think we can somehow deal with some of these global challenges in the absence of major powers like China, India and Brazil seems to me wrongheaded.” A well-timed thought as it is clear that the role played by these nations in the world economy is gaining prominence.
In the resource sector, China has already made its mark not only as one of the largest consumers but also as one of the largest accumulators of commodities. Chinese policy makers have ushered in an environment in which state enterprises, as well as private companies, are seeking to secure resource supplies around the world. It was against this backdrop that China Investment Corporation (CIC), a Sovereign Wealth Fund, acquired some 17% of Teck Cominco.
Copper is not the only metal China seeks to control and Teck is not the only acquisition China has made in the resource sector. In what could be a further indication of China’s tightening grip on the supply side, the China Non-Ferrous Metals Mining (Group) Co., Ltd. (CNMC) recently acquired a controlling interest in the Australian rare earth project developer Lynas Corporation Ltd. (Lynas). The full transaction, comprising a combination of equity, debt and loan guarantees, is valued at US$366 million and provides a glimpse of what rare metal companies are really worth.
Interestingly, CNMC is not the only government sponsored rare metals investment company. The Jiangsu Eastern China Non-Ferrous Metals Investment Holding Co. Ltd. (JIH), a unit of East China Exploration & Development Bureau, agreed to acquire a 25% stake in Arafura Resources Ltd., a gold and mineral mining company, for A$24 million, in February 2009. Arafura has a rare earth and phosphate deposit in its Nolans project.
Against this backdrop, one has to draw the attention to the ownership structure of these acquisitions and investments. Both CNMC and JIH are owned by the Chinese government and are established to ensure that China has interests in nonferrous metals both at home and abroad.
These investments clearly indicate that China is aggressively securing rare metal deposits around the world. Given China’s massive consumption of rare metals, their desire to secure supply sources makes sense. The concern however is their continued acquisition would enable them to control both supply and prices thus leaving the rest of the world at their mercy!
These investments clearly indicate that China is aggressively securing rare metal deposits around the world. Given China’s massive consumption of rare metals, their desire to secure supply sources makes sense. The concern however is their continued acquisition would enable them to control both supply and prices thus leaving the rest of the world at their mercy!
According to the EU, for several years China has applied export restrictions (quotas and export duties) to key raw materials of which China is the leading extractor and exporter. Such restrictions naturally distort competition and increase global prices as some of these resources cannot be found elsewhere. While the recent complaint has only been on coke, bauxite, fluorspar, magnesium, manganese, silicon metal, silicon carbide, yellow phosphorus and zinc, this development provides a foretaste of future developments in other metal markets as well.
In addition to the traditional rare earth metals, other strategic metals such as tantalum are now assuming increasing importance. Tantalum is primarily used in the production of electronics capacitors which find their way into cell phones, DVD players, personal computers, digital cameras, gaming platforms, LCD monitors and wireless devices. It is currently produced by only a handful of suppliers. As China tightens its grip over rare metals with foreign asset purchases and export restrictions, the investment case for tantalum companies is also expected to gain recognition.
Given these developments, it is worthwhile highlighting Canadian Venture and Frankfurt listed Commerce Resources Corp. (TSX.V: CCE, Frankfurt: D7H) which is one of the most active tantalum explorers. A significant exploration and development programme is currently underway at the Upper Fir deposit of its Blue River Tantalum/Niobium Project. The company’s competitive advantage lies in the fact that its projects are located in Canada, an area with low political and currency risk as compared to other world supplies.
The Upper Fir deposit has approximately 14 million tonnes of indicated and 19 million tonnes inferred resources. The project is expected to have a long-term mine life of over 20 years and due to being in carbonatite host rock could potentially be one of the lowest cost producers. Its proximity to the US makes it even more attractive.
We have highlighted on many occasions the power shift to China in the resource sector and the growing need for other industrial nations to seek alternative supply sources for themselves. Once supply sources are firmly secured, China will be able to determine both material prices and their export destinations. The fact that most of these investments are by state-funded entities such as CNMC makes the situation particularly precarious. At the far end of the pessimism, it will be a situation similar to oil supplies which are controlled by a handful of countries. The race has begun to secure supplies of rare metals. Investors should be positioning themselves at the starting line and taking a look at companies with proven deposits such as CCE.
Recycling of Rare Earth Metals Faces Challenges
July 16th, 2009
Recycling probably isn’t high on the priority list at GM these days but with an administration keen to promote its green credentials it may be a good time for GM and other car producers to consider a closed loop recycling program for their new hybrid and electric car projects in the way Toyota has for the PGM’s used in their exhaust catalysts. Rare metals pundit Jack Lifton recently wrote on the topic in www.autobloggreen.com.
With so much press coverage being spent on the fragility of rare earth metal supplies, (many quote 90% of all metals fall into this bucket) one would expect a simple project risk management analysis to have flagged this up as an issue requiring attention. One of the problems in extracting rare earths from automobile parts is that the technology is not well developed. For clean segregated scrap, such as segregated Li-ion battery scrap, the process is relatively straightforward. The problems arise when the collection and recycling process is handled by the existing recycling industry. More often than not metallic parts and components will not be segregated by metal type. Mixed metal scrap will be much more of a challenge as this research article shows. There are potentially three extraction processes, none of which are fully developed commercially and all of which have drawbacks either in terms of yielding pure metals or in cost, or both.
Aqueous based technology – the drawback is it produces mixed metal oxides or fluorides which are then as expensive as the original ore to refine
Electro-slag refining – works well for large clean pieces of scrap but less well for contaminated or fine swarf (e.g. grit). In addition, the transition metals often get pulled across into the end product which then requires extensive further refining to access the RE’s
Liquid Metal Extraction – is a process that offers some promise because it can accept multi metal inputs and distinct metal outputs, but has not been developed commercially for RE’s. However it has worked for silver extraction from lead ores, so the basic technology is understood.
However the development of end of life (EOL) product management legislation may force the pace even if rising rare earth metal costs do not. EOL imperatives are forcing manufacturers in Europe and Japan to design in re-cyclability that may not be justifiable economically but is being required by legislation. Though we have deep reservations about such red tape, the one benefit that may come out of it is an earlier examination of how rare earth metals can be identified in a range of products appropriate for recycling. Fortunately there is a precedent that has been set by the recycling of PGM’s and it is possible the model would work for some rare earths. China’s steady restriction on exports and acquisitive involvement in new mining sources can’t help but lead to a rise in prices sooner rather than later. The reality is the cost of recycling the small volumes involved will mean costs have to rise a lot before rare earth recycling will become economically viable.
http://agmetalminer.com/2009/07/16/recycling-of-rare-earth-m…
July 16th, 2009
Recycling probably isn’t high on the priority list at GM these days but with an administration keen to promote its green credentials it may be a good time for GM and other car producers to consider a closed loop recycling program for their new hybrid and electric car projects in the way Toyota has for the PGM’s used in their exhaust catalysts. Rare metals pundit Jack Lifton recently wrote on the topic in www.autobloggreen.com.
With so much press coverage being spent on the fragility of rare earth metal supplies, (many quote 90% of all metals fall into this bucket) one would expect a simple project risk management analysis to have flagged this up as an issue requiring attention. One of the problems in extracting rare earths from automobile parts is that the technology is not well developed. For clean segregated scrap, such as segregated Li-ion battery scrap, the process is relatively straightforward. The problems arise when the collection and recycling process is handled by the existing recycling industry. More often than not metallic parts and components will not be segregated by metal type. Mixed metal scrap will be much more of a challenge as this research article shows. There are potentially three extraction processes, none of which are fully developed commercially and all of which have drawbacks either in terms of yielding pure metals or in cost, or both.
Aqueous based technology – the drawback is it produces mixed metal oxides or fluorides which are then as expensive as the original ore to refine
Electro-slag refining – works well for large clean pieces of scrap but less well for contaminated or fine swarf (e.g. grit). In addition, the transition metals often get pulled across into the end product which then requires extensive further refining to access the RE’s
Liquid Metal Extraction – is a process that offers some promise because it can accept multi metal inputs and distinct metal outputs, but has not been developed commercially for RE’s. However it has worked for silver extraction from lead ores, so the basic technology is understood.
However the development of end of life (EOL) product management legislation may force the pace even if rising rare earth metal costs do not. EOL imperatives are forcing manufacturers in Europe and Japan to design in re-cyclability that may not be justifiable economically but is being required by legislation. Though we have deep reservations about such red tape, the one benefit that may come out of it is an earlier examination of how rare earth metals can be identified in a range of products appropriate for recycling. Fortunately there is a precedent that has been set by the recycling of PGM’s and it is possible the model would work for some rare earths. China’s steady restriction on exports and acquisitive involvement in new mining sources can’t help but lead to a rise in prices sooner rather than later. The reality is the cost of recycling the small volumes involved will mean costs have to rise a lot before rare earth recycling will become economically viable.
http://agmetalminer.com/2009/07/16/recycling-of-rare-earth-m…
Trading Spotlight
Antwort auf Beitrag Nr.: 37.583.578 von Fuenfvorzwoelf am 16.07.09 10:52:46".Security fears in proposed Lynas buyJamie Freed
July 16, 2009 .
CHINA'S stranglehold on the world's rare earths market — essential ingredients in advanced weaponry, fighter jets and radar — has raised concerns about national security implications of China Non-Ferrous Metal Mining's proposed $500 million purchase of a majority stake in Lynas Corporation.
China controls about 97 per cent of the world's production of rare earths, and Lynas' Mount Weld deposit in Western Australia is one of two significant projects outside China. The other one is in California.
The US last month filed a World Trade Organisation case against China for imposing export quotas on the materials. A bill before the US Congress requires a report on the strategic nature of the minerals to the US Department of Defence is completed by next year.
"(Rare earths) is certainly a strategic market from a materials point of view," said Professor Carlo Kopp, a defence technology expert at Monash University. "From a national security point of view, I think you can make a broad case that you never want to hand control of any strategic resource to a foreign nation. That would be generally true. Even if it were someone other than China, I would still say it was not a good idea."
The Foreign Investment Review Board this month asked China Non-Ferrous to resubmit its application, starting a new 30-day review.
This year FIRB allowed another Chinese company to buy a 25 per cent stake in a less-advanced rare earths explorer, Arafura Resources, but Treasurer Wayne Swan blocked China Minmetals' proposed purchase of OZ Minerals' Prominent Hill mine on the grounds of national security.
Lynas had long marketed itself as an alternative supplier to China before the financial crisis and had to turn to a Chinese state-owned company for funding to complete construction of its project.
Lynas executive chairman Nicholas Curtis said the deal with China Non-Ferrous would have no effect on its existing contracts with customers in the US, Europe and Japan.
He said Lynas would continue to market its products to customers outside China, and the investment by China Non-Ferrous would lead to an increase in the world supply of the minerals.
The executive director of rare earths consultancy Industrial Minerals Company of Australia, Dudley Kingsnorth, said Chinese control of Lynas could lead to a change in its strategy.
"The Chinese haven't denied anybody (rare earths) supply directly (to date)," he said. "But there is the potential for it to be denied at some stage in the future.""
Jamie Freed must have been reading my thoughts or I have been reading his. The Chinese offer for Lynas is not just a simple commercial one.
July 16, 2009 .
CHINA'S stranglehold on the world's rare earths market — essential ingredients in advanced weaponry, fighter jets and radar — has raised concerns about national security implications of China Non-Ferrous Metal Mining's proposed $500 million purchase of a majority stake in Lynas Corporation.
China controls about 97 per cent of the world's production of rare earths, and Lynas' Mount Weld deposit in Western Australia is one of two significant projects outside China. The other one is in California.
The US last month filed a World Trade Organisation case against China for imposing export quotas on the materials. A bill before the US Congress requires a report on the strategic nature of the minerals to the US Department of Defence is completed by next year.
"(Rare earths) is certainly a strategic market from a materials point of view," said Professor Carlo Kopp, a defence technology expert at Monash University. "From a national security point of view, I think you can make a broad case that you never want to hand control of any strategic resource to a foreign nation. That would be generally true. Even if it were someone other than China, I would still say it was not a good idea."
The Foreign Investment Review Board this month asked China Non-Ferrous to resubmit its application, starting a new 30-day review.
This year FIRB allowed another Chinese company to buy a 25 per cent stake in a less-advanced rare earths explorer, Arafura Resources, but Treasurer Wayne Swan blocked China Minmetals' proposed purchase of OZ Minerals' Prominent Hill mine on the grounds of national security.
Lynas had long marketed itself as an alternative supplier to China before the financial crisis and had to turn to a Chinese state-owned company for funding to complete construction of its project.
Lynas executive chairman Nicholas Curtis said the deal with China Non-Ferrous would have no effect on its existing contracts with customers in the US, Europe and Japan.
He said Lynas would continue to market its products to customers outside China, and the investment by China Non-Ferrous would lead to an increase in the world supply of the minerals.
The executive director of rare earths consultancy Industrial Minerals Company of Australia, Dudley Kingsnorth, said Chinese control of Lynas could lead to a change in its strategy.
"The Chinese haven't denied anybody (rare earths) supply directly (to date)," he said. "But there is the potential for it to be denied at some stage in the future.""
Jamie Freed must have been reading my thoughts or I have been reading his. The Chinese offer for Lynas is not just a simple commercial one.
Gerne,
noch eins:
Lynas secures two approvals for Mt Weld
16th July 2009, 11:00 WST
Shares in aspiring rare earths miner Lynas Corporation were higher today after the company confirmed it had secured two government approvals to allow it to start mining and begin exporting.
Lynas, which hopes to bring its Mt Weld project near Laverton into production next year, said today it had secured an export approval from the Federal Department of Resources, Energy and Tourism and a WA Department of Environment and Conservation approval for its transport management plan.
However the company is still awaiting Foreign Investment Review Board approval for China Nonferrous Metal Mining Group to take a 51.6 per cent stake in the company for $252 million.
The deal, which forms part of a $500 million financing plan involving Chinese banks, is crucial to enable Lynas to bring its Mt Weld project into production.
The project, which includes a processing plant in Malaysia, is one of the State’s biggest new mining developments.
Lynas shares were up 2.5 cents, or 5.81 per cent, to 45.5 cents at 10.40am.
STUART McKINNON
noch eins:
Lynas secures two approvals for Mt Weld
16th July 2009, 11:00 WST
Shares in aspiring rare earths miner Lynas Corporation were higher today after the company confirmed it had secured two government approvals to allow it to start mining and begin exporting.
Lynas, which hopes to bring its Mt Weld project near Laverton into production next year, said today it had secured an export approval from the Federal Department of Resources, Energy and Tourism and a WA Department of Environment and Conservation approval for its transport management plan.
However the company is still awaiting Foreign Investment Review Board approval for China Nonferrous Metal Mining Group to take a 51.6 per cent stake in the company for $252 million.
The deal, which forms part of a $500 million financing plan involving Chinese banks, is crucial to enable Lynas to bring its Mt Weld project into production.
The project, which includes a processing plant in Malaysia, is one of the State’s biggest new mining developments.
Lynas shares were up 2.5 cents, or 5.81 per cent, to 45.5 cents at 10.40am.
STUART McKINNON
@FünfvorZwölf
Danke für die Super postings!!!!
Danke für die Super postings!!!!
Steht morgen in Australien in der Presse: 
Chinese interest in Lynas raises strategic issues
Jamie Freed
July 16, 2009
CHINA'S stranglehold on the world's rare earths market - essential ingredients in advanced weaponry, fighter jets and radar - has raised concerns about the potential national security implications of a Chinese interest in Lynas Corp.
China Non-Ferrous Metal Mining is proposing to spend $500 million for a majority stake in the Sydney company.
China controls about 97 per cent of the world's production of a collection of elements called rare earths, and Lynas's Mount Weld deposit in Western Australia is one of only two globally significant advanced projects outside of China. The other is in California.
Last month the United States filed a World Trade Organisation case against China for imposing export quotas on the materials and a bill before Congress would require a report on the strategic nature of the minerals for the US to be completed by next year.
"[Rare earths] is certainly a strategic market from a materials point of view," said Professor Carlo Kopp, a defence technology expert at Monash University. "From a national security point of view I think you can make a broad case that you never want to hand control of any strategic resource to a foreign nation. That would be generally true. Even if it were someone other than China I would still say it was not a good idea."
The Foreign Investment Review Board asked China Non-Ferrous this month to resubmit its application, starting a new 30-day review process.
Earlier this year the board allowed another Chinese company to buy a 25 per cent stake in a less advanced rare earths explorer, Arafura Resources, but the federal Treasurer, Wayne Swan, blocked China Minmetals' proposed purchase of OZ Minerals' Prominent Hill mine on grounds of national security.
Lynas had long marketed itself as an alternative supplier to China before the global financial crisis hit and it was forced to turn to a Chinese state-owned company for funding to complete construction of its project.
Lynas's executive chairman, Nicholas Curtis, said the deal with China Non-Ferrous would have no effect on its existing contracts covering 75 per cent of its first-stage output and 25 per cent of its second-stage output with customers in the US, Europe and Japan. Those contracts involves terms of up to five years. He said Lynas would continue to market its products to customers outside China and the investment by China Non-Ferrous would lead to an increase in the global supply of the strategic minerals.
But Dudley Kingsnorth, the executive director of a rare earths consultancy, Industrial Minerals Company of Australia, said Chinese control of Lynas could eventually lead to a change in the company's strategy. "The Chinese haven't denied anybody [rare earths] supply directly [to date]," he said. "But … I don't think it is healthy to be so dependent on one country."
Source: The Sydney Morning Herald
Chinese interest in Lynas raises strategic issues
Jamie Freed
July 16, 2009
CHINA'S stranglehold on the world's rare earths market - essential ingredients in advanced weaponry, fighter jets and radar - has raised concerns about the potential national security implications of a Chinese interest in Lynas Corp.
China Non-Ferrous Metal Mining is proposing to spend $500 million for a majority stake in the Sydney company.
China controls about 97 per cent of the world's production of a collection of elements called rare earths, and Lynas's Mount Weld deposit in Western Australia is one of only two globally significant advanced projects outside of China. The other is in California.
Last month the United States filed a World Trade Organisation case against China for imposing export quotas on the materials and a bill before Congress would require a report on the strategic nature of the minerals for the US to be completed by next year.
"[Rare earths] is certainly a strategic market from a materials point of view," said Professor Carlo Kopp, a defence technology expert at Monash University. "From a national security point of view I think you can make a broad case that you never want to hand control of any strategic resource to a foreign nation. That would be generally true. Even if it were someone other than China I would still say it was not a good idea."
The Foreign Investment Review Board asked China Non-Ferrous this month to resubmit its application, starting a new 30-day review process.
Earlier this year the board allowed another Chinese company to buy a 25 per cent stake in a less advanced rare earths explorer, Arafura Resources, but the federal Treasurer, Wayne Swan, blocked China Minmetals' proposed purchase of OZ Minerals' Prominent Hill mine on grounds of national security.
Lynas had long marketed itself as an alternative supplier to China before the global financial crisis hit and it was forced to turn to a Chinese state-owned company for funding to complete construction of its project.
Lynas's executive chairman, Nicholas Curtis, said the deal with China Non-Ferrous would have no effect on its existing contracts covering 75 per cent of its first-stage output and 25 per cent of its second-stage output with customers in the US, Europe and Japan. Those contracts involves terms of up to five years. He said Lynas would continue to market its products to customers outside China and the investment by China Non-Ferrous would lead to an increase in the global supply of the strategic minerals.
But Dudley Kingsnorth, the executive director of a rare earths consultancy, Industrial Minerals Company of Australia, said Chinese control of Lynas could eventually lead to a change in the company's strategy. "The Chinese haven't denied anybody [rare earths] supply directly [to date]," he said. "But … I don't think it is healthy to be so dependent on one country."
Source: The Sydney Morning Herald
Wednesday, 08 July 2009 | 11:04 AM
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Lynas confirms FIRB delay for China investment
8th July 2009, 8:45 WST
Lynas Corp says a planned investment by China Nonferrous Metal Mining Group (CNMC) is on track, after this morning confirming the Foreign Investment Review Board had asked the Chinese firm to resubmit its proposal for the WA explorer.
As flagged in the The West Australian this morning, Lynas said in a statement to the sharemarket that it "understands" FIRB had made the request for CNMC to withdraw and resubmit its proposal earlier this month.
But although the disruption means any ruling on the tie-up is delayed for at least a month, it is unlikely to seriously derail Lynas' timeline assuming the investment is ultimately approved.
"This is not an unusual or unexpected step in FIRB review of investment transactions of this nature," Lynas said.
"Assuming the regulatory review of the transaction proceeds in accordance with the current proposed timetable, Lynas anticipates convening a shareholder meeting in approximately September 2009 to approve the CNMC transaction."
CNMC plans to sink $252 million into Lynas to get its Mt Weld rare earths project south of Laverton into production next year.
The deal, which forms part of a $500 million financing plan involving Chinese banks, would give CNMC 51.6 per cent of Lynas.
The latest move follows similar delays experienced by WA iron ore players Gindalbie Metals and Fortescue Metals Group in having their own tie-ups with AnSteel and Hunan Valin Iron and Steel respectively approved earlier this year, against a backdrop of heightened scrutiny over Chinese investment in Australian resources. Both deals were eventually approved.
Lynas was forced to seek a Chinese lifeline in February after a dispute with bondholders scuppered an existing financing arrangement and forced the suspension of work at Mt Weld.
The Mt Weld project, which includes a processing plant in Malaysia, is one of the State’s biggest new mining developments.
Lynas shares were 1c weaker at 45.5c at 8.50am.
KATE EMERY
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Lynas confirms FIRB delay for China investment
8th July 2009, 8:45 WST
Lynas Corp says a planned investment by China Nonferrous Metal Mining Group (CNMC) is on track, after this morning confirming the Foreign Investment Review Board had asked the Chinese firm to resubmit its proposal for the WA explorer.
As flagged in the The West Australian this morning, Lynas said in a statement to the sharemarket that it "understands" FIRB had made the request for CNMC to withdraw and resubmit its proposal earlier this month.
But although the disruption means any ruling on the tie-up is delayed for at least a month, it is unlikely to seriously derail Lynas' timeline assuming the investment is ultimately approved.
"This is not an unusual or unexpected step in FIRB review of investment transactions of this nature," Lynas said.
"Assuming the regulatory review of the transaction proceeds in accordance with the current proposed timetable, Lynas anticipates convening a shareholder meeting in approximately September 2009 to approve the CNMC transaction."
CNMC plans to sink $252 million into Lynas to get its Mt Weld rare earths project south of Laverton into production next year.
The deal, which forms part of a $500 million financing plan involving Chinese banks, would give CNMC 51.6 per cent of Lynas.
The latest move follows similar delays experienced by WA iron ore players Gindalbie Metals and Fortescue Metals Group in having their own tie-ups with AnSteel and Hunan Valin Iron and Steel respectively approved earlier this year, against a backdrop of heightened scrutiny over Chinese investment in Australian resources. Both deals were eventually approved.
Lynas was forced to seek a Chinese lifeline in February after a dispute with bondholders scuppered an existing financing arrangement and forced the suspension of work at Mt Weld.
The Mt Weld project, which includes a processing plant in Malaysia, is one of the State’s biggest new mining developments.
Lynas shares were 1c weaker at 45.5c at 8.50am.
KATE EMERY
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