Lynas Corp Ltd (LYC AU) is the proverbial Aussie battler. Post the 2018 general elections, the new Malaysian government put Lynas on notice it may halt it rare-earth operations.
Since then, Lynas’ Malaysian facility, which cuts into China’s near-monopoly on processing elements for defense/aerospace/EV/electronics industries, has (mostly) operated without substantial disruptions. Profit peaked in FY22; but has since rolled-over.
Gina Rhinehart's Hancock has now disclosed a 5.82% stake in Lynas; having disclosed a 5.3% stake in MP Materials (MP US) earlier this month. Lynas confirmed discussions with MPM in February.
Lynas (LYC AU): Gina's Stake Revives MP Materials Merger
Keep reading with a 7-day free trial
Subscribe to Aussie/Kiwi M&A/Events to keep reading this post and get 7 days of free access to the full post archives.