Lynas Corporation posted a 7.4 per cent rise in quarterly revenue as higher demand for rare earth elements countered weaker prices and the miner said it was on track to get its processing licence renewed by Malaysia in March.
Rare earths miner Lynas Corp has been unsuccessful in securing approval from a Malaysian regulator to increase its lanthanide concentrate processing limit for 2019.
Rare earth producer Lynas Corporation intends to sublease an industrial zoned property from the City of Kalgoorlie-Boulder, three months after signing an agreement with the mining town to review potential sites for its cracking and leaching plant.
The mining sector has welcomed an agreement signed by Geoscience Australia and the United States Geological Survey to collaborate on developing critical minerals assets, which include commodities such as lithium and rare earths.
Lynas Corporation has signed an agreement with the City of Kalgoorlie-Boulder to review potential sites for a cracking and leaching plant, as the rare earths producer seeks to assuage concerns from Malaysia around radioactive waste.
Lynas Corporation has posted a 50 per cent jump in full-year profit amid record production of major rare earth elements but the company says most of its growth will be outside China.
Lynas Corporation's licence to operate a rare earths processing plant in Malaysia appears set to be extended, though it could be for a shorter duration than the usual three years, two sources with direct knowledge of the matter say.
Rare earth miner Lynas Corporation says it is stockpiling two rare earth metals and limiting sales to its strategic partners because of price volatility amid the US-China trade war and a slowing global economy.
A local junior whose gold and base metals exploration projects in Burkina Faso had to be put on hold amid escalating jihadist violence in the West African country is pivoting to become a rare earth oxide developer.
Lynas Corporation won't cash in on the sharp short-term increase in rare earths prices related to the US-China trade war, saying it will stick to the long-term strategy it announced last month.
Lynas Corporation chief executive Amanda Lacaze says the company is around two months away from deciding on a Western Australian site to expand its processing operations.
Lynas Corporation has signed a memorandum of understanding with US-based Blue Line Corporation to set up a rare earths separation facility in Texas, following ongoing regulatory issues at its processing plant in Malaysia.
Wesfarmers has made a second takeover bid for a miner, with a $776 million proposal for lithium company Kidman Resources, as it seeks to benefit from the global uptake of electric vehicles.
Takeover target Lynas Corporation has reported a 32.5 per cent rise in production of rare earths oxides during the quarter, as it fends off a takeover offer from retails-to-chemicals conglomerate Wesfarmers.
Wesfarmers said its talks with the Malaysian government about Lynas Corporation had been mischaracterised, as the rare earths miner confirmed it was considering Western Australian sites for materials processing from its Mt Weld mine.
Wesfarmers has confirmed it engaged in discussions with the Malaysian government in regards to its takeover target, Lynas Corporation, as the rare earths miner revealed it may set up processing operations closer to its Mount Weld mine near Laverton.
Lynas Corporation said it will not engage with Wesfarmers' $1.5 billion indicative takeover offer, after the conglomerate launched the bid for the rare earths miner yesterday.
Wesfarmers has made a $1.5 billion indicative offer for rare earths miner Lynas Corporation, its first takeover bid since its ill-fated $705 million purchase of Homebase in the UK in February 2016.
SPECIAL REPORT: The potential for mass production of electric cars is among a number of high-technology trends sparking interest in Western Australia's lithium sector, with a series of companies touting projects to meet a forecast surge in demand.
Western Australia has an opportunity to break the Chinese stranglehold on the rare earths industry, but the state needs a success story to build investor confidence.
Listed companies from Western Australia are on the outer in the most recent quarterly reshuffle of the S&P Dow Jones ASX Indices, with high-profile absentees including Iluka Resources, Mineral Resources and Monadelphous Group.
Never has the KISS management principle (keep it simple, stupid) been better demonstrated than in the dreadful condition of Western Australia's mineral processing sector, where crisis is piling on crisis.
Eight Western Australia-based resources sector firms have been removed from the list of Australia's top 300 companies, providing further evidence that the slowdown in mining activity is hurting WA
