KINI KILANG LYNAS DI GEBENG AKAN KEMBALI BEROPERASI

LYNAS kini telah memperoleh satu suntikan dana yang baru melalui satu syarikat Cina CNMC berjumlah AUD400 Million. Membawa maksud bahawa kilang ini akan terus menggugat keselamatan penduduk Balok secara khususnya serta penduduk Kuantan secara amnya. Saya harap para pembaca dapat berkongsi disini pandangan tentang apakah langkah seterusnya yang boleh kita lakuakn demi mamastikan projek ini tidak mendatangkan mudharat kepada manusia serta alam sekitar yang bakal kita wariskan kepada anak cucu kita.

Dibawah ialah kenyataan Media oleh LYNAS bertarikh 1 Mei 2009

FOR IMMEDIATE RELEASE

CNMC AS NEW LYNAS MAJORITY SHAREHOLDER

NEW CAPITAL WILL ENABLE LYNAS TO LIFT SUSPENSION ON THE RARE EARTHS PROJECT

 

Friday, 1 May 2009: Lynas Corporation Limited has signed a binding heads of agreement with China Nonferrous Metal Mining (Group) Co., Ltd (CNMC), whereby CNMC is proposed to become a new majority shareholder in the company.

Under this agreement CNMC will arrange provision of new equity and debt capital totalling over A$500 million to allow Lynas to lift the suspension of the Rare Earths project and complete the construction and commissioning of both the Concentration Plant in Western Australia and the Advanced Materials Plant in Malaysia, through to the final design of 21,000 tonnes per annum of REO. Lynas shall also progress work towards a feasibility study on the balance of the Mount Weld resources.

The transaction is subject to third party approvals including Australian regulatory approvals such as the Foreign Investment Review Board (FIRB), Chinese regulatory approvals and Lynas shareholders’ approval

 

CNMC will become the company’s largest shareholder with approximately 51.66%, through the issuance of 700 million new shares in Lynas at $0.36 cents per share to raise AUD $252 million. The placement price represents a control premium of 52.5% above the volume weighted average price of Lynas shares for the 30 trading day period prior to the date the binding Heads of Agreement was signed.

CNMC will also provide a bank guarantee to enable a Chinese bank to lend Lynas the balance of the funds required to reach the USD$286 million, (a loan of approximately USD $104 million). This funding shall be used for the first phase of the Lynas Rare Earths project at 10,500 tonnes per annum Rare Earths Oxide (REO) including project suspension and remobilisation, working capital, contingency, financing fees and corporate overheads, including feasibility study work, until positive cash flow.

 

The second phase expansion to 21,000 tonnes per annum REO, currently estimated at USD$ 80 million shall also be debt funded with CNMC providing a bank guarantee.

Executive Chairman, Mr Nicholas Curtis, said that CNMC will also provide support to facilitate an immediate working capital loan of US$15 million, demonstrating CNMC’s commitment to supporting the company.  

Lynas announced that the business model will not change, with the Concentration Plant to be built in Western Australia and the Advanced Materials Plant to be built in Malaysia. Lynas’ marketing strategy remains unchanged with a focus on Japan, North America and the European Union including fulfilling existing sales contracts.

Mr Curtis is to remain as Executive Chairman and the Lynas Board shall be expanded to eight Directors to include four Directors appointed by CNMC, with the Executive Chairman having a casting vote. The current executive management team shall remain in place.

“Lynas is delighted to have attracted such a strong shareholder who fully supports the development of our business model. This new shareholding by CNMC affirms the attractive economics of the project. The funding package will enable restart of the Lynas Rare Earths project with anticipated first production approximately 12 months from the receipt of funds, and will enable the company to fully implement the Lynas vision of being a global leader in Rare Earths for a sustainable future.” Mr Curtis said.

The President of CNMC Mr Luo Tao said, “CNMC is very pleased to be able to participate in an investment opportunity as exciting as Lynas. CNMC shares the Lynas vision and supports the Lynas development strategy for participation in this exciting industry. We have identified Lynas as a company that is well positioned to deliver its shareholders a very strong return from its high quality Mount Weld resource and CNMC is very happy to become a major shareholder.”

About CNMC

China Nonferrous Metal Mining (Group) Co., Ltd (CNMC) is an international mining company focused on nonferrous metals with both domestic China and overseas resource projects. CNMC activities in resource projects include exploration, design, construction, mining and refining. The company has representative offices and operation agencies in more than 20 countries and regions.

CNMC is owned by the central government’s State-owned Assets Supervision and Administration Commission (SASAC).

 

About Lynas Corporation

Lynas owns the richest deposit of Rare Earths, also known as Lanthanides, 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 suspended work on the Lynas Rare Earths project in February 2009. Lynas has received all environmental approvals to build a Concentration Plant at Mount Weld and an Advanced Materials Plant to process the Mount Weld concentrate through to final Rare Earths oxides in the Gebeng Industrial Estate, Kuantan, Pahang, Malaysia. 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.  

‘Rare Earths’ is the term given to fifteen metallic elements known as the lanthanide series, plus yttrium. They play a key role in green environmental products, from energy efficient compact fluorescent light bulbs (CFLs) to hybrid cars, automotive catalytic converters and wind turbine generators. They are also essential in the development and manufacturing of many modern technological products, from hard disc drives to flat panel displays, iPods and magnetic resonance imaging (MRI) scans.

For further information please contact Nicholas Curtis or Matthew James on +61 (0)2 8259 7100 or visit www.lynascorp.com