24 Nov 2010 15:31 $1.5050 $0.1200 8.7%
Lynas in advanced discussions regarding additional
Rare Earths supply for Japan
Following commentary in the Japanese and International media, Lynas Corporation Limited
("Lynas") (ASX:LYC, OTC:LYSDY) advises that it is in advanced stages of discussion to secure
additional supply of Rare Earths products for the Japanese market by accelerating the expansion
of the Lynas Rare Earths project.
The objective of any potential transaction is to provide a stable and long term source of supply for
the Japanese market.
Further details will be provided should a transaction be successfully concluded.
About Lynas Corporation
Lynas owns the richest known deposit of Rare Earths in the world at Mount Weld, near Laverton in
Western Australia. This deposit underpins Lynas' strategy to create a reliable, fully integrated
source of Rare Earths supply from the mine through to customers in the global Rare Earths
industry.
Lynas will concentrate the ore mined at Mount Weld in a Concentration Plant approximately 1.5km
from the mine. The concentrate produced will be shipped in sea containers to the east coast of
Malaysia to the Lynas Advanced Materials Plant (LAMP) within the Gebeng Industrial Estate,
Kuantan, Pahang, Malaysia, and processed through to separated Rare Earths products
Engineering and construction of both the Concentration Plant and the LAMP remain within budget.
The first feed of ore into the Concentration Plant is on target for early 2011. The first feed of
concentrate to the LAMP is on target for the third quarter of 2011.
The company plans to become the benchmark for security of supply and a world leader in quality
and environmental responsibility to an international customer base, with production anticipated to
commence in 2011.
Lynas American Depositary Receipts (ADRs) trade under the code LYSDY (CUSIP number
551073208). Each Lynas ADR is equivalent to 10 ordinary shares of Lynas as traded on the
Australian Securities Exchange (ASX). The Bank of New York Mellon is the depositary bank in
respect of Lynas ADRs.
For further information please contact Nicholas Curtis or Matthew James on
+61 (0)2 8259 7100 or visit
www.lynascorp.com
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