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  • Australian company wants to enter rare earth metals market

    The Australian diversified group Wesfarmers, represented, in particular, in the chemical and mining industries, has made an offer to buy the Malaysian company Lynas Corp, the world’s only significant producer of rare earth metals outside of China.

    Westfarmers proposes to redeem this enterprise, which receives raw materials from its own mine in Western Australia and is capable of producing up to 20-22 thousand tons of neodymium and praseodymium (NdPr) for $ 1.1 billion. From the point of view of stock market analysts, this price looks too low. Obviously, for this reason, the leadership of the Malaysian company rejected this proposal.

    However, at the same time, Lynas is now in a difficult position. The company had problems with the renewal of the license due to the high level of environmental pollution and toxic waste.

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