JARE reconfirms Lynas commitment
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.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation