https://www.miningweekly.com
Energy|Flow|Flow|Operations
Energy|Flow|Flow|Operations
energy|flow-company|flow-industry-term|operations

JARE reconfirms Lynas commitment

13th August 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Rare earths miner Lynas on Thursday told shareholders that it had inked a letter of agreement with Japan Rare Earths (JARE) reconfirming that company’s long-term support of Lynas.

The two companies are parties to a long-term loan facility with a balance of $145-million at an interest rate of 2.5% a year and a maturity date of June 2030.

JARE in June of last year agreed to revise the payment schedule, with minimal payments until December 2024 to allow Lynas to use cash flow from its operations on capital expenditure, with JARE deferring further interest payments of $11.5-million until the end of October 2021, with no penalty and no additional interest.

Lynas MD and CEO Amanda Lacaze told shareholders that the letter of agreement inked with JARE reflected the long and mutually beneficial relationship between the two companies.

“Both parties are committed to continued development of global rare earth supply chains. In addition, JARE’s continued support of Lynas ensures we have confidence in executing our growth plans,” she added.

The Atomic Energy Licensing Board recently approved Lynas’ proposed site for its permanent deposit facility, in Malaysia, subject to the completion of relevant studies and final regulatory approvals.

The company was hoping to start the development of the facility by early 2021.

Edited by Creamer Media Reporter

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.148 0.189s - 93pq - 2rq
Subscribe Now