The Lynas Corporation Ltd (ASX: LYC) share price is up 3% to $2.72 today after the rare earths miner provided an update on its growth plans all the way out to 2025. The Malaysia-based rare earths miner that is the second-largest independent supplier of rare earths in the world noted how NdPr rare earths prices have soared 40% over just the last 60 days on the back of reports China may consider banning exports of the product in retaliation for U.S. tariffs on Chinese imports.
Lynas is also "confident" its regulatory problems around the disposal of mining waste in Malaysia will be resolved, but is still waiting for renewal of its operating license to be granted that is due by September 2 2019.
It also flagged other plans to relocate some of its rare earth processing operations back to Western Australia in response to the Malaysian problems.
Over the long term it plans to lift total NdPr rare earth production to 10,500 tonnes per annum, with improved margins and consequently profits.
It has also announced a joint venture project in the US with Blue Line Corporation to develop rare earth separation operations in the US.
It also flagged that it continues to build rare earth inventory partly in the expectation that rare earth prices will be higher by 2020.
