Wesfarmers in a ‘marathon’ race for rare earths producer Lynas Corp

  • Lynas’s stock price has jumped recently in response to reports that China was ready to restrict rare earths exports to the US in its trade war with US president Donald Trump.
  • Wesfarmers’ bid for Lynas was followed less than six weeks later by its $776 million bid for Australian lithium company Kidman Resources , and was viewed as another sign from Wesfarmers of its wish to diversify and capture opportunities related to the expected surge in EVs over coming decades.
  • Matthew Ryland from Lynas shareholder Greencape Capital said the US/China trade tensions highlighted that, “if you want security of supply from a source outside of China there’s only one place in town – that’s Lynas”.

Read full article: smh.com.au