Lynas, one of the world’s main suppliers of rare earths outside China, said it was open to processing materials closer to its Australian mine if that meant it can renew its licence in the Southeast Asian country.
The plant is expected to produce up to 15,000 tonnes of lithium concentrate (spodumene) per year from samples taken at the PAK deposit, located in Canada's northwestern Ontario.
There is enough evidence to conclude that risk capital has found a new home, a BDO report shows. The question now is, how and where will junior miners find the capital needed to sustain their businesses?
The offer represents a premium of nearly 45% on Lynas' closing price on Monday, but comes come with some significant conditions, including the rare dearth miner securing all necessary licences in Malaysia.
The company has secured a second five-year exploration licence in the Erzgebirge (meaning Ore Mountain) region of Saxony, which completely encloses its Zinnwald project.