{"id":1123480,"date":"2019-06-27T11:45:26","date_gmt":"2019-06-27T11:45:26","guid":{"rendered":"https:\/\/www.mining.com\/?p=995136"},"modified":"2019-06-27T11:45:26","modified_gmt":"2019-06-27T11:45:26","slug":"japan-secures-rare-earth-supply-for-longer-through-lynas-funding","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1123480","title":{"rendered":"Japan secures rare earth supply for longer through Lynas funding"},"content":{"rendered":"<p>Australia\u2019s Lynas Corp (ASX: LYC) <a href=\"https:\/\/www.asx.com.au\/asxpdf\/20190627\/pdf\/44651z2lhl7rwl.pdf\">has signed<br \/>\na 10-year loan extension<\/a> on easier terms with its powerful Japanese<br \/>\nbackers, which means the Asian nation now has a larger and lengthier hold on<br \/>\nthe company\u2019s rare earths output amid China\u2019s threats to use its market supply<br \/>\ndominance as a weapon in the trade war with the United States.<\/p>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<p>Under the new agreement with<br \/>\nJapan<br \/>\nAustralia Rare Earths BV (JARE), a joint venture between state-owned Japan<br \/>\nOil, Gas and Metals National Corp (JOGMEC) and Sojitz Corp, Lynas\u2019<br \/>\nprincipal payments due and the interest charged on the loan will be<br \/>\nreduced. <\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Japan now has a larger and lengthier hold on the company\u2019s rare earths output amid China\u2019s threats to use its market dominance as a weapon in the trade war with the US.<\/p>\n<\/blockquote>\n<\/figure>\n<p>The extension to 2030 to repay $147 million will help the Aussie miner, the only major producer of rare earths outside China, move forward with its 2025 expansion plans.<\/p>\n<p>It would also aid financing the <a href=\"https:\/\/www.mining.com\/lynas-to-move-upstream-processing-of-rare-earths-from-malaysia-to-australia\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">relocation of Lynas\u2019 controversial processing plant<\/a> from Malaysia to Western Australia, where its Mt Weld mine is located, over the next five years.\u00a0<\/p>\n<p>\u201cOnce the new cracking and leaching plant is operational, the material shipped to Malaysia for processing will not include naturally-occurring radioactive material,\u201d the company <a href=\"https:\/\/www.asx.com.au\/asxpdf\/20190627\/pdf\/44651z2lhl7rwl.pdf\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said in the statement<\/a>.<\/p>\n<p>Moving processing of rare earths from Malaysia to Western Australia, is also expected to help the company ramp up its production to 10.5kt of Neodymium and Praseodymium (NdPr) oxide a year in order to meet and profit from the expected demand growth. <\/p>\n<p>The company\u2019s main products, \u00a0neodymium and praseodymium, are key ingredients in permanent magnets used in electric vehicles, energy efficient consumer devices, and in the aerospace and defence industries. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>It means the Asian nation now has a larger and lengthier hold on the company&rsquo;s rare earths output.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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