Lynas Corporation Ltd is an ASX 100 listed company with it’s headquarters based in Sydney, Australia and an office in Perth and Kuantan, Malaysia.
According to Lynas the foundation of their rare earth strategy ‘is Mount Weld in Western Australia, the richest known deposit of Rare Earths in the world, and a state-of-the art Rare Earths processing plant, the Lynas Advanced Materials Plant (LAMP), currently under construction near Kuantan in Pahang, Malaysia. Production is scheduled for third quarter of 2011.”. Investors in the LAMP include Mitsubishi and Siemens.
The Mount Weld rare earth deposit is located 35 kilometres south of Laverton in the Northern Goldfields, Western Australia and is the richest known deposit of Rare Earth in the world.
On 7 March 2011 Lynas also completed the acquisition of the Kangankunde Rare Earths Resource in Malawi, Africa. There are concerns that the ore from the Kangankunde Carbonatite Complex (KGK) in Malawi may be higher than the Australian ore. Malawian ore would also be likely to be sent to Malaysia increasing the concerns amongst residents regarding radioactive waste.
In April 2011 Lynas Corporation was the second largest shareholder (7.87%) in Northern Uranium Pty Ltd a uranium and rare earth exploration company. The largest shareholder of Northern Uranium is Chinese based Conglin Lue with 17.61%.
Investors in Lynas’ Advanced Materials Plant