Daily News header

Company Reply to Rare Earth Story

By  

Lynas Corporation has taken exception to an implication in my recent story on Green Jobs

The only part of the article they objected to was:

"China's government owned mining companies immediately offered to buy 51% of Lynas and 25% of Arafura."

This was completely accurate and the point of the story was that China is attempting to control any portion of the rare earth element market which it does not already own.

What Lynas would like everyone to know is that that purchase offer was blocked and they now have funding through other sources (see their complete email below.)

I have requested details about the funding and projections of when they expect to be in production.

Lynas' Reply:

"High-Paying Green Jobs in U.S. - Another Fantasy?

Dear John

I note in the above article you reference Lynas lost funding due to the GFC - which is correct, and that a Chinese group completed due diligence and offered to fund development of our Rare Earths project - which is also correct. However you failed to mention that the Australian Foreign Investment Review Board blocked this deal, and that JP Morgan assisted Lynas in raising all required funds to complete this project. I realise these facts don't support your story, but I would like to think you would give the full and balanced picture to your readers.

Lynas would request you print a correction as your current story gives the impression Lynas remains either without necessary funding or under Chinese ownership - both of which are incorrect.

Regards

Matthew James
Dr. Matthew James
Vice President
Corporate and Business Development
Lynas CORPORATION LTD
Office: +61 2 8259 7177
Mobile: +61 410 711 324
Fax: +61 2 8259 7199

John McCormick is a reporter, /science/medical columnist and finance and social commentator, with 17,000+ bylined stories. Contact John through NewsBlaze.

  Please leave a comment here     If it does not display within 10 seconds, please refresh the page

* The views of Opinion writers do not necessarily reflect the views of NewsBlaze

Related Australia News

Setting the pace for the press conference, Dr IS Gilada, President, AIDS Society of India, emphasized that collaborative activities between national TB and HIV programmes can help maximise strengthen public health outcomes.
Stigma related to HIV not only blocks access to existing services for key affected populations but also increases risk of HIV acquisition manifold.
Shobha Shukla reports that Mark Dybul, speaking at AIDS 2014, said a focus on individual human beings will work better than a disease centric approach
So said Helen Ayles. She was quoted by Dr Diane Havlir who was speaking in the plenary of the 20th International AIDS Conference (AIDS 2014) in Melbourne, Australia. Dr Diane Havlir who is a researcher at the University of California, San Francisco,
TB is an infectious bacterial disease that spreads through the air. When people with pulmonary TB cough, sneeze or spit, they propel the TB germs into the air and a person needs to inhale only a few of these germs to become infected.
Viet Nam has made remarkable progress over the last decade in not only making harm reduction and HIV services available and accessible for people who use drugs but also reforming laws for supportive health p

 

NewsBlaze Writers Of The Month



Popular Stories This Month

newsletter logo

NewsBlaze
Copyright © 2004-2014 NewsBlaze Pty. Ltd.
Use of this website is subject to our Terms of Service and Privacy Policy  | DMCA Notice               Press Room   |    Visit NewsBlaze Mobile Site