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.
It will be interesting to see if this news affects the Wesfarmers Ltd (ASX: WES) bidding process., although the first bid was rejected.
But, I prefer to avoid commodity businesses like Lynas, Instead, I would rather buy the proven ASX shares in the free report below.
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