Lynas Corporation Ltd (ASX: LYC) shares could react today to some Malaysian-related news.
Lynas Corporation is a ‘rare earths’ minerals producer. Rare earths are minerals which are used as inputs to create many of the electronic devices (e.g. mobile phones) we know and use each day. Lynas has two large projects: Mt Weld in WA is a deposit and mining facility; Kuantan in Malaysia is a rare earths separation facilities in the world. Lynas is one of the world’s largest products of rare earths outside of China.
Lynas’ Malaysian News
Lynas said it had noted the comments made by the Malaysian Prime Minister and welcomed what was said, although the company is seeking clarification about the comments and will update the market in due course.
The rare earth miner did said that it is looking at operator alternative cracking and leaching processing close to the company’s resource. Lynas’ Japanese lenders have affirmed their support for the company and management team.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.