Australia’s Wesfarmers Ltd remains keen on buyout talks with rare earths miner Lynas Corp Ltd, the retail-to-chemicals conglomerate said on Friday, despite its A$1.4-billion ($992-million) approach being rejected earlier this week.
The comments foreshadow an intense takeover battle for the only proven producer of rare earth elements outside China, which has struggled with support from Malaysian regulators for a key processing plant located there.