Cloak and Dagger Mystery: The Lynas Saga.

RareMetalBlog - Lynas SagaTrying to make sense out of the Lynas Advanced Materials Processing (LAMP) facility saga?

Consider this article the Holy Grail as we attempt to unwind a cleverly wound plotline of misinformation fed and regurgitated to the media with the goal to misalign and unite protestors.  After all, most protestors are committed to truth and discovering that they are questionably puppets by a capitalistic competitor, which we suspect – well, this just doesn’t make sense at all.

For starters, from the onset Lynas was granted the “strategic pioneer status” by the Malaysians. Lynas didn’t start this – they were enticed by tax incentives from the well known Malaysian Industrial Development Association (MIDA). MIDA was created to attract entrepreneurs and international caliber companies to relocate and utilize their work force. Lynas is being villainized by some misinformed media for accepting the well known MIDA benefits which include a 12 year tax free period.

Let’s go back and review the facts:

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  • January 22, 2008: Lynas was granted a manufacturing license to produce rare earth oxides and carbonates at Gebeng Industrial Estate, Kuantan.
  • February 15, 2008: The Environmental Impact Assessment (EIA) report on the project was approved following a rigorous review by the Malaysian Department of Environment (DOE) who confirmed that Lynas has complied with all requirements of the EIA approval. Lynas began planning and construction of its LAMP facility soon after obtaining its manufacturing license.
  • 2011: The Malaysian government arranged a further independent review by the International Atomic Energy Agency (IAEA) and Lynas cooperated with an independent review. The recommendations of the IAEA were accepted by Lynas and by the Malaysian government. The IAEA concluded that the LAMP facility, once completed is expected to be safe and fully compliant with international standards, and that Malaysia’s laws and regulations regarding radiation safety are comprehensive and conform to IAEA standards. In some cases, Malaysia’s regulations are stricter than internationally accepted safety standards.
  • April 22, 2011: The Government responded to public concerns by announcing the appointment of an independent panel of international experts to review the health and safety aspects of the project and to make recommendations to the Government.
  • May 13, 2011: The Government announced that the IAEA in Vienna, Austria, had agreed to appoint an expert team to review Lynas' International Safety Standards and Good Practices, along with their compliance. The goal was to provide an independent expert opinion on safety issues and most importantly — those relating to radiation safety. The IAEA concluded that Lynas had met all radiation safety standards imposed on them at the plant by the regulatory authorities (Atomic Energy Licensing Board and DOE) and that these standards meet internationally recognized IAEA safety standards. (Source)
  • February 2, 2012: The Atomic Energy Licensing Board (AELB) announced that it had approved the granting of a Temporary Operating License (TOL) for the LAMP facility, subject to a number of conditions, which Lynas has accepted. Lynas has in all of their actions respected the government’s review and approval process and has acknowledged that it imposes very high standards. Lynas also continues its program of consultation with community representatives in Malaysia.(Source)
  • March 19, 2012: The Malaysian Government reported its decision to establish a Parliamentary Select Committee (PSC) to give a better understanding of the rare earth refining industry. The PSC will not decide on matters such as the approval and ongoing operation of the LAMP facility. (Source)
  • April 5, 2012: The AELB announced that Lynas’ TOL was on hold until Science, Technology and Innovation Minister Maximus Ongkili had heard an appeal by local residents opposed to the project.
  • April 17, 2012: Mr. Ongkili announced that a decision this matter will be made “as soon as possible.”
  • April 20, 2012: Lynas announced it was filing defamation suits against two protest groups opposed to the LAMP facility — Free Malaysia Today and Save Malaysia, Stop Lynas. (Source)
  • May 9, 2012: Today is designated as the day for case management and for the submission of relevant documents. A date for hearing this matter has not yet been set.
  • May 6, 2012: The Malaysian National News Agency reported that the PSC is expected to visit the LAMP facility this Thursday, May 10, 2012. The PSC is also planning to meet local residents to better understand their concerns. (Source)
  • May 7, 2012: Amid these recent developments, industry experts gathered in Malaysia for the inaugural International Symposium on Rare Earths in Kuala Lumpur where four industry experts delivered presentations covering the broad spectrum of rare earth processing. (Source)
  • May 8, 2012: Mr. Jebasingam Issace John, CEO of the East Coast Economic Region (ECER) comments that the LAMP facility will not have a negative impact on the proposed 607 hectare Malaysia-China Kuantan Industrial Park, established to increase foreign investments in Malaysia. THE ECER is an economic development corridor in Malaysia based on the east coast of Peninsular Malaysia covering the states of Kelantan, Terengganu, Pahang and the north of Mersing district of Johor. (Source)

What’s left? Lynas must also submit waste management plan for approval before the start of operations for approval by the AELB. Lynas has reported that the waste from its rare earth processing facility in Malaysia will not be hazardous and that radioactive residue can be recycled for use in commercial applications. This will significantly reduce the amount of waste that needs to be disposed and ultimately means that the facility will not need long-term storage of its processing wastes. Lynas has further indicated that its REE processing residue can be turned into gypsum.

Disclaimer: Lynas is a RareMetalBlog sponsor.


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This entry was posted in Rare Earth & Technology Metals Intel and tagged , , , , , , by Tracy Weslosky. Bookmark the permalink.
Tracy Weslosky

About Tracy Weslosky

Tracy Weslosky is the Publisher and Editor-in-Chief of InvestorIntel, a leading global investment intelligence source created for the innovative and entrepreneurial minded that represents over 50 publicly listed companies globally that are listed on InvestorIntel.com. Tracy is also the Founder & CEO for ProEdge Media Corp., an online publishing and media production company since 2001; and is the Managing Partner for 724 Capital Corp., a business consulting firm that currently represents U.S. Rare Earths, Inc. Previously she has owned a boutique Investment Banking firm for 7 years that was the basis for a business reality television series called, DealFlow. Aired around the world for 3 years on CNBC World, WealthTV and many other networks globally; Tracy is a speaker, writer and an entrepreneur.
  1. Was it Paul Harvey who said decades ago: “And now you know the rest of the story.”
    http://www.mysinchew.com/node/73266
    “Lynas will not have negative impact on MCKIP
    Controversial Lynas project News 2012-05-07 15:26
    By Massita Ahmad and Zarul Effendi Razali
    KUALA LUMPUR, May 7 (Bernama) — The controversial Lynas Advanced Materials Plant (LAMP), will not have a negative impact on the Malaysia-China Kuantan Industrial Park (MCKIP), says the East Coast Economic Region’s (ECER) Chief Executive Officer, Datuk Jebasingam Issace John.
    “Lynas is a good idea, a good project. We don’t want to have a negative impression of it right from the beginning,” he told Bernama.
    He also said that the government is working to resolve issues surrounding Lynas.
    He said this in response to whether the RM1.5 billion rare earth refinery located at the Gebeng Industrial Estate, would have a negative impact on the MCKIP.
    The LAMP is located close to the proposed 607-hectare MCKIP which is also sited at Gebeng town in Kuantan, Pahang, and within the ECER.
    Jebasingam said the MCKIP, which is expected to take off within the next six months, will enhance bilateral trade between Malaysia and China.
    The key components of the MCKIP include plastic, metal, electric and electronics, consumer products and renewable energy he added.
    “Malaysian businesses and businessmen from the area will be able now to enter into joint ventures with Chinese partners to develop these industries,” he said.
    Prime Minister Datuk Seri Mohd Najib Tun Razak had announced last Sunday that Kuantan has been identified as a suitable location to house a sister industrial park between China and Malaysia.
    He said the move was to reciprocate China’s efforts to set aside a 55 sq km piece of land in Qinzhou, Nanning, as the Qinzhou Industrial Park, as a joint venture project with Malaysia.
    In announcing it, Najib said the government was carrying out detailed studies on the implementation of MCKIP and has had meetings with investors from China on it.
    “Give us a little bit more time to finalise it and if eventually realised, we will see a higher level of investments, especially in Kuantan,” he added.”
    Paul Harvey: “AND NOW YOU KNOW THE REST OF THE STORY”
    What about quoting “Porky Pig”: THATS ALL FOLKS
    > 0:08> 0:08
    http://www.youtube.com/watch?v=gBzJGckMYO4

  2. Oh really?
    Let’s see?
    1. MCKIP = Malaysia China Kuantan Industrial Park. 607 hectacres = 1500 acres within the same “fishing village” Gebang as Lynas LAMP.
    2. “Jebasingam said the MCKIP, which is expected to take off within the next six months, will enhance bilateral trade between Malaysia and China.The key components of the MCKIP include plastic, metal, electric and electronics, consumer products and renewable energy he added.”
    3. “He said the move was to reciprocate China’s efforts to set aside a 55 sq km piece of land in Qinzhou, Nanning, as the Qinzhou Industrial Park, as a joint venture project with Malaysia.”
    4. Oh let’s see. Chinese government and Malaysian governments are partners in both China and Malaysia.
    5. Oh let’s see. MCKIP is 607 hectacres or for you Americans that’s 1500 acre industrial park
    6. Oh let’s see. the Chinese-Malaysian governments joint venture in China called Qinzhou Industrial Park is 55 square kilometers, oh for you Americans that over 16 square miles.
    7. Oh yes the Lynas LAMP protesters? A bunch of Gebang local people in my opinion used as “pawns” on the big economic Chinese-Malaysia chess board. In my opinion: The Save Malaysia Stop Lynas (SMSL) have been lied to and abused by these big Chinese-Malaysian governments.
    What a story!
    This is the story of the decade in the REE world.
    Not just a pivotal turning point. THE STORY OF THE DECADE.

  3. Thanks Hans –
    I would like to thank Alastair Neill from DACHA Strategic Metals who sent me this email today after visiting the LAMP facility last night: The Lynas plant in Malaysia is a world class facility and the best I have seen outside of China with the possible exception of Rhodia’s plant in La Rochelle but the systems in place to monitor and control the pollution are second to none. The staff has spent a lot of time , money and effort to understand the concerns raised by those opposing the facility. In all instances they were able to explain how they addressed the concerns based on international standards or refuted the claims based on factual information. The waste gas scrubber alone is a custom design costing as much as it would to construct a medium sized facility in China. The potential for this to be a springboard for other industries in Malaysia is compelling and a local University is embarking on several RE programs in consultation with Peking University, China and Kharlsruhr Institute of Technology, Germany. This, to my knowledge, is the first new concerts effort to develop RE knowledge base outside China in the recent past. Overall I was very impressed by the design, construction and staff at the facility.”
    Thank you to everyone who has been sending us the latest updates on Lynas from around the world.
    Regards, Tracy Weslosky

  4. OLD BLOG, APPLICABLE?
    My take remains the same: The Why within Malaysia is also the Who in Malaysia?
    China: The Lynas LAMP antagonist? Interference with Business Relations? Quid Pro Quo? “Political Suicide”? Really?
    Issues:
    Do the combined 2 articles listed below at least raise issues regarding the real set of motivators aggravating the emergence of non-Chinese ROW REE sources.
    In my view China: The World REE and strategic metals monopolist with ever tightening stranglehold within Chinese REE sector, is exerting pressures on the non-Chinese ROW REE upstarts.
    Has China crossed the line with regard to international laws?
    1. Has China engaged in “Interference with Business Relationships”. Case in point Lynas and Malaysian goverment?
    2. Can Chinese “infrastructure projects” et al help to nations such as Malaysia be construed in, let’s say, The World Court, as a form of bribery? Quid Pro Quo?
    3. Will legal action be justified, within Malaysia or WTO or even The Hague Criminal Court within the Netherlands?
    As always, please disagree or agree. After all I believe the world is still a relatively “free speech” kind of place?
    Could I please draw your attention to 2 passages:
    Shanghaidaily.com source: “Due to the pollution and contamination risks from the operation of rare earth processing plants, it is political suicide for governments in most parts of the world to approve the establishment of rare earth plants. In places where such plants have won conditional approval, there were protests by the local populace, as witnessed in the case of the Lynas Advanced Materials Plant in Pahang, Malaysia.”
    http://www.shanghaidaily.com/nsp/Opinion/2012/04/19/Rare%2Bearth%2Bminerals%2Ba%2Bdoubleedged%2Bsword/
    New Straits Times source: “Earlier, Prime Minister Datuk Seri Najib Razak had given the government’s assurance that the project would be scrapped if there were concrete scientific evidences supporting claims that the rare earth would have detrimental effects on health and the environment.”
    http://www.nst.com.my/latest/psc-on-lynas-to-visit-site-on-may-10-1.75274
    My hypothesis: China is very much involved in Malaysia opposing the smooth opening of Lynas Malaysia LAMP plant. Interference with Business Relations? Quid Pro Quo?
    1. Why does the Malaysian Parliament think they know more than the Atomic Energy Commission? They don’t. Political decision? Or economic decision muddying the Malaysian LAMP decision?
    2. “Quid Pro Quo”? Are the Chinese working their “magic”(quid pro quo) in Malaysia?
    China is a big financial player in Malaysia. Chinese infrastructure help to Malaysia is one example?
    http://usa.chinadaily.com.cn/business/2012-04/09/content_15003924.htm
    What else is China doing to Malaysia. LOTS I NOW KNOW: 7 MAY 2012: http://www.mysinchew.com/node/73266
    3. Lynas has not paid the 50 million yet to Malaysian government? What exactly is the stated purpose v. the actual purpose of the government requested 50 million dollars?
    Kind regards,
    Reply

  5. ANOTHER OLD BLOG: LYNAS LAWSUIT BECOMES UNNECESSARY?
    Discovery.
    What a nice way to find out who is funding the SMSL.
    Bank records.
    Fund transfers.
    The money trail?
    Where does the money lead?
    Lawsuits can commence and lead to many avenues?
    Love Discovery?
    Love financial records?
    Leaders?
    Their “backers”?
    The Why of it all?
    The Who of it all?
    What if China: The World’s REE and strategic metals Monopolist is “shown behind the curtain”?
    Big pay day!
    Malaysian Courts. WTO Courts. The Hague Criminal Courts?
    Actual damages?
    Punitive damages?
    Go for the “deep pockets”?
    What if Chinese Government is involved? Would 500 Billion Australian Dollars be too little to change China’s behavior?
    Kind regards,
    Reply Monday, May 07, 2012 at 11:29 AM
    Dr. Robert Olson said in reply to Dr Robert Olson…
    Or should the above caption read: LYNAS LAWSUIT PROVEN OR BECOMES UNNECESSARY?

  6. As a Lynas Shareholder:
    1. Nick I would rather get the 500,000,000,000
    2. Yes Gareth Hatch that’s 500 BILLION Australian dollars in The World Court of the Hague
    3. Yes and see CRIMINAL CONVICTIONS within the World Court of the Hague.
    4. Yes and long prison sentences of a few of these guys.

  7. Nick Curtis: OH on second thought, let’s take the 500,000,000,000 in Chinese Gold rather than in AUD.

  8. Nick Curtis,If its the Chinese behind all of this I believe the shareholders should hold out for at least a Trillion dollars.
    Henry

  9. Tracy,
    You just made the legal case for Lynas winning a huge lawsuit against both the Malaysian and Chinese governments.
    Personally I feel with actual and punitive damage awards: One Trillion USD dollars is not excessive.
    Should be a “slam dunk” in any impartial court.
    Hans idea of either the WTO or Hague World Court as the proper venue makes sense!
    Anywhere in Europe will convict these perpetrators of criminal crimes as well.

  10. In legal jargon, it’s what’s called, pardon the vulgarity?, having the Malaysian and Chinese governments “by the short hairs”
    Damages?
    The sky is the limit!
    Think of a number and double it!

  11. Thanks for the amusing commentary Jack and for coming to RareMetalBlog.
    Obviously you have visited our http://www.CurrencyCountdown.com site (“investors guide for economic survival”) where we discuss the unending printing of money.
    In reality, I rarely condone legal action as it often means that no resolution will occur. Must admit that in my humble opinion Lynas has conducted themselves like a fine southern gentleman and have been respectful and courteous in spite of some challenges.
    Thanks again. Tracy

  12. Well, if Lynas doesn’t come online, I hope the European Union explodes, so I can make some change money on the dollars I have. That’s how depressed I feel today. O, and my Avalon shares took a nosedive: what a surprise! If this nightmare continues I’ll be living in a box tomorrow!!! @Obama: where’s the change you idiot? You talk the talk, but you don’t walk the walk!

  13. Yes the Non-Chinese ROW REE world needs some good news.
    Oh, I know some really good news within the REE world!
    Chinese REE companies are at or close to exceeding all time highs.
    Yesterday 600259 maxed out up 10 %
    600111 was up 5 %.
    600111 just ad a 2:1 share split and paid out a nice shareholder dividend last week.
    Yes there is potentially big money in REEs if you can get to the producer/supply stage.

  14. Hi Tracy,
    No one likes lawsuits. Sorry I am wrong already? People that like lawsuits: 1. Attorneys: sue me and make my day?
    2. Also winners of big fat judgements.
    Attorneys say only 2 ingredients to successful lawsuit: 1. damage done by defendant and 2. Deep pockets.
    We have both severe damages to Lynas and Chinese “deep pockets”.
    “Can’t get blood out of a turnip”? We can get billions, and maybe more out of the Chinese if they are implicated?
    Sorry Tracy I would like to be “Polyanna” and a “southern gentleman” too?
    Damages in the 100s of billions? Chinese with “deep pockets”?
    Guess what? I want my Lynas Board of Directors to call a Special Shareholders Meeting within 30 days and discuss our options? Ask for a vote?
    As shareholders we have the ultimate say as to Lynas’ next move?
    My shares vote for a real Law Suit.
    Will hopefully see some Southern Gentlemen on the Lynas Board: “Fish or cut bait”?

  15. Sorry I read what I said, and that was insensitive. Chinese winning, all others losing? Not sensitive to you. Sorry
    Lynas does have a chance to be in production soon. That would help?

  16. Both 600111 and 600259 are up again today. In a down Chinese market.
    Lynas broke down through 1 buck.
    Easier to sue China and take the one Trillion Australian Dollars?
    Not fair.

  17. Tracy, just saw what China Daily you know “The official mouthpiece of the Chinese Government” had to say about that sweetheart deal with the Malaysian Government.
    “KUALA LUMPUR – Malaysia’s northeastern port city of Kuantan has been identified as the suitable location to house a sister industrial park between China and Malaysia, Malaysian Prime Minister Datuk Seri Mohd Najib Razak said on Sunday.
    He said the move was to reciprocate China’s efforts to keep aside a land of 55 square kilometers in Qinzhou, Nanning as the Qinzhou Industrial Park, a joint venture project between China and Malaysia.
    “Kuantan is seen as the closest point to the city of Nanning and with that I have requested the state government of Pahang to prepare a 1,500-acre (607.29 hectares) land for China to set up the sister industrial park here,” he said.
    Najib said this in his speech during a gathering in Kuantan, about 250 kilometers northeast of Kuala Lumpur, which was also attended by his wife and several other government officials and local officials.
    Najib said the government was carrying out detailed studies on the implementation of the project and have had meetings with investors from China towards that.”

  18. http://usa.chinadaily.com.cn/business/2012-05/07/content_15225336.htm
    How about the big Deal.
    No longer collusion!
    COLLUSION: Verb 1. collude – act in unison or agreement and in secret towards a deceitful or illegal purpose; “The two companies conspired to cause the value of the stock to fall”
    conspire
    interact – act together or towards others or with others; “He should interact more with his colleagues”
    Now out in the open.
    Now that’s real gall?

  19. http://usa.chinadaily.com.cn/business/2012-05/07/content_15225336.htm
    How about the big Deal.
    No longer collusion!
    COLLUSION: Verb 1. collude – act in unison or agreement and in secret towards a deceitful or illegal purpose; “The two companies conspired to cause the value of the stock to fall”
    conspire
    interact – act together or towards others or with others; “He should interact more with his colleagues”
    Now out in the open.
    Now that’s real gall?
    Hey, what a story.
    Real damages. Deep pockets.
    Wonder if Lynas can find international attorneys willing to sue for $ 1,000,000,000,000 yes Gareth Hatch thats ONE TRILLION AUSTRALIAN DOLLARS.
    Tracy the lawsuit is so easy to win. How can we be “Southern Gentlemen” and Pollyannas much longer?

  20. I hope they do, but they are fighting the chinese dragon on Malasian ground zero. China is simply saying to Malasian Government: choose: Lynas or our investments!

  21. Let’s add a little more intrique to the plot.
    Fictional of course,…A What If Scenario?…What if, the Malaysian PM
    suggested that it might alleviate oppositional friction if Lynas agreed to
    sell a chunk of its’ end product to the High Tech Chinese Industries that
    will be built in the MCKIP?(At a flat contracted discounted price).
    Q. Over a period of a few short years how much is Lynas worth to the
    Malaysian Government versus the Industries in the MCKIP???
    Billions vs Trillions???
    Q. When Lynas gets the TOL will the company still derive the profit margins
    that it has forecasted?

  22. Hej…Big J from Europa
    Hang in there.
    All asset classes are getting Hammered.
    I have a whole screen of red numbers.
    The only green being an inverse on the S&P.
    May will go away. :)

  23. That presents an opportunity for you to play the Aussie today.
    I frequency trade the ETF “FXA” when it goes to parity or below
    I buy…when it back goes up 3AUD or more I sell.
    Check the “Monthly History” of this ETF. You can do this several times a
    year and you do not have to get into all the Labor Intensive Forex stuff
    with Stochastics and monitoring PIPS etc.
    As an Old Guy I like to keep it simple…I do not want my investment
    strategies to get too deep for my shallow mind. :)

  24. Nevada George:
    1. Can you go have coffee with Tracy and gang at pro-edge.com in San Francisco this week. I sent my regrets. Still on our ancestral Norway farm.
    2. Want to ask your valuable opinion:
    Which more lucrative? Which option in best interests of Lynas Shareholders?
    Personally, I see tremendous upside either way. Malaysian and Chinese governments relent and let Lynas survive and thrive. Or Lynas takes on China and Malaysia Governments in international world courts for international collusion, interference with business relations, and quid pro quo/ bribery.

  25. In your opinion, Which international court would give Lynas it’s best chance to win ONE TRILLION AUD DOLLARS?
    Legally speaking Lynas is at a crossroads. REE miner/LAMP refiner v. Real Litigation with significant downside risk, hence the Lynas Board’s need upfront of majority shareholder approval.
    As outlined in the RMB article and blog entries are at least Lynas Legal Complaints:
    1. International Collusion by the Governments of China and Malaysia.
    2. China: Intereference with business relations Lynas:Malaysia
    3. Chinese Quid Pro Quo a form of bribery. China and Malaysia. China doing “sweetheart deals for Malaysia and in return Malaysia does damage to Lynas.
    Nick Curtis, Lynas Board, Lynas in-house legal team, as well as the large Lynas investors of which I include us are not ignorant to the realities.
    We need to all sit together at a LYNAS SPECIAL SHAREHOLDERS MEETING and make decisions of which we can all live.
    The venue of international lawsuit should be in a international venue, preferably Europe, and handled by international attorneys, probably European with the clout and stature to sue the Chinese and Malaysian Governments for ONE TRILLION DOLLARS AUD in actual and punitive damages.
    As Tracy on RMB so aptly put it, “Lynas has conducted themselves like a fine southern gentleman and have been respectful and courteous in spite of some challenges.”
    There is also a time for “Southern Gentlemen” to fish or cut bait.
    The time is now. We as shareholders need to provide our majority support and additional monies so that Nick Curtis and the Lynas Board are able to most effectively deal with the international culprits hindering Lynas in Malaysia.

  26. I “do not” want to see any Legal Action.
    I want to see Lynas getting issued the TOL and
    hopefully navigating their way through any future obstacles.
    I want them to start production ASAP and complete Phase II in WA and
    Malaysia. “If” some of the Chinese companies that are slated for
    the MCKIP do Business with Lynas that’s fine with me.The more
    customers the better.I have lowered my original Price Target expectations
    for a multitude of reasons…Not just because of the issues in Malaysia.
    Today was another down day in the Markets for a lot of asset classes.
    I expect a very bumpy ride over the Eurozone issues…Good time to buy
    a property in Greece if you have any extra cash laying around….Back to the Drachma’s???

  27. What if both China and Malaysian Governments are both culpable legally (found guilty) in international court, do you feel China should pay ONE TRILLION AUSTRALIAN DOLLARS and then how much should Malaysia pay?
    Malaysian government pay a second ONE TRILLION AUD?
    So full damages: 2,000,000,000,000 (two trillion Australian Dollars)?
    What about legal costs?
    Would international court award legal costs to Lynas? Would that be another 50 million dollars?
    What about court costs and travel expenses? Another 100,000 AUD?
    Would Lynas Shareholders accept 2,000,050,100,000 as full and final settlement from the Chinese and Malaysian Governments?

  28. Logical as always.
    Sorry I disagree this time and here is why?
    China and Malaysia are guilty as sin of Collusion, interference with business relations, and quid pro quo, and guess what they are going to willingly stop!
    Too much $$$$ flowing from China to Malaysia Government. China pays, and Malaysia continues to try to trip up Lynas, you know the quid pro quo bribery?
    This time I agree with Jack Wu
    Jack Wu said in reply to whodunnit…
    Are you asking me which I would rather have?
    Choices:
    #1. 2,000,000,000,000 yes TWO TRILLION AUSTRALIAN DOLLAR lawsuit from COLLUSIONAL CHINA and MALAYSIA GOVTs
    or
    #2. China and Malaysia would play fair and according to International Rules of Law allowing Lynas to mine and refine?
    Let’s see: #1 get 2 TRILLION DOLLARS within 3 years or make 1 Billion Dollars per year mining and refining REEs.
    Personally I would go for #1 the TWO TRILLION DOLLARS.
    Reason: take 2000 years to earn TWO TRILLION DOLLARS in mining?
    Reply Wednesday, May 09, 2012 at 11:39 PM

  29. Could I point out an obvious fact:
    There is a lot of money to be made even in tough markets.
    Let’s just take a look at the share market performance and profits of actively producing REE miners and REE manufacturers inside China.
    600111 and 600259 are at or exceeding all time highs within the Shanghai market.
    The Chines REE manufacturers Are actually outpacing the Chinese REE miners in year over year profits.
    Chinese REE mining/manufacturers are turning in 100 to 750 percent year over year increases in profits.
    600111 last week declared 2:1 share split and a nice shareholder dividend.
    Hey ROW REEs don’t get jealous, get into production and “have a healthy swim around” the waters are warm tropical, nice sea breezes and the cocktails are at pool side.
    REEs as profitable as any business if you are in the “horse race” and the race is not rigged by Conspiracy and Collusion?

  30. Oh I forgot the simple way to put it:
    A lesson I learned on the school playground when I was 8 years old.
    ONCE A BULLY! ALWAYS A BULLY.
    Short of a punitive award that even makes the Chinese bully stop, oh let’s say ONE TRILLIONAustralian Dollars, the Chinese Dragon will not stop breathing consumptive fire?

  31. Fact Japan is the largest investor in Malaysia
    Lynas LAMP 2 is now being built – it will deal with HREE’s and the concentrate will most probably come from NTU
    So whats wrong with Lynas securing agreements with the Chinese to supply their needs in Malaysia?
    Lynas did it with the Japanese, the Germans and a few others so that the refined REE’s are already sold – for 10 years (if I remember correctly)
    Business is business – I dont see any conspiracy here.
    The issue of suing the stop Lynas and anti Government groups = well doesnt that play into the hands of the ruling elite? Besides the stop Lynas et all dont have any money to receive through suing them, its just a few shots off the bough to scare them off and to get them to put full page ads in their newspaper / blogs facebook retracting their nonsense. Now the Muslim Clerics have called for a Fatwa that asks all good Muslims not to protest as it is against the Muslim teachings. Now doesnt that play into the ruling governments hands.
    BBC said today that enquiries into last weeks demonstrations and the results will make an election announcement for June.
    So no more demonstrations, retractions from Anti Lynas groups and the 42 NGO’s being sued, elections coming up, green lights for Lynas from all, share price way down.
    DYOR = seems like a bargain to me.

  32. Jack Wu, I am afraid the lawyers would take one third of the settlement. So to net a two trillion dollars they would have we would have to be awarded three trillion AUD.
    Henry

  33. CERRIE Minority Report and European Committee on Radiation Risk (ECRR)
    The anti-lynas group (including the good Hon. Professor C.) has often used the CERRIE Minority Report to claim that “There is strong evidence that current models of hazard from radioactivity inside the human body underestimate risks by at least 100 and possibly up to 1,000 times.”
    What happened at CERRIE (Committee Examining Radiation Risks of Internal Emitters) is well known (see http://iopscience.iop.org/0952-4746/24/4/E02/pdf/jr44e1.pdf , http://www.cerrie.org/ and
    http://www.comare.org.uk which advises the UK government) and is due to two members, one of whom is Christopher Busby who, it seems, sells radiation protection kits to Fukushima survivors
    (see http://www.guardian.co.uk/environment/2011/nov/21/christopher-busby-radiation-pills-fukushima and
    http://www.guardian.co.uk/environment/georgemonbiot/2011/nov/22/christopher-busby-nuclear-green-party ). Busby is very political and even ran for office.
    They also cited that the self-styled European Committee on Radiation Risk (ECRR) which is an informal committee formed in 1997 following a meeting by the European Green Party which claimed that the risk from radioactive internal emitters are at least 100 to 200 times more hazardous than currently believed.
    Quote: Nick Tsurikov “The point that I would like to make is to illustrate clearly that ECRR “100-200 times” factors cannot possibly be correct – have a look:
    The ‘official’ risk of getting cancer from radiation exposure is 1 in 20,000 per 1 milliSievert of dose. So, if the hazard is ‘understated’ by, say, 200 times – it becomes 1 in 100, per 1 mSv of dose.
    Thousands of people in Malaysian amang industry and in heavy mineral sands industry world wide have been exposed to about 5 mSv every year for (let’s say, on average) 6 years of working life, so their cumulative dose was 30 mSv.
    Which means that if ECRR is correct – every third worker should be dead from cancer by now…
    And what about those who were exposed to about 20 mSv for five years or more (in any industry, uranium included) – in accordance with the ECRR coefficients – the chance is 1 in 1, so they are all dead from cancer by now…
    I do not see any cancer epidemic happening… What about all the tin miners in Malaysia in 1950′s-1970′s: they all should’ve died within several years after starting their work (as their coefficient would be close to 5 to 1…) Just some points for general consideration…”
    Dato’ Dr Looi Hoong Wah
    FAMM, MB., ChB(Manchester), MRCS(England), MRCP(UK), MRCP(London)
    *
    http://kickdefella.net/2012/04/17/lynas-negligible-radiation-but-only-toxic-chemical-waste/#more-5242
    http://kickdefella.net/2012/04/16/rare-earth-a-richer-malaysia-and-a-greener-world/#comment-76493

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