RPT-FOCUS-How rare earth shocks lifted an upstart Australian mining company [Reuters]
LYNAS RARE EARTHS S/ADR (LYSDY)
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Source: Reuters
RPT-FOCUS-How rare earth shocks lifted an upstart Australian mining company (Repeats story that ran Tuesday without changes) By Melanie Burton, Yuka Obayashi and Aaron Sheldrick MOUNT WELD, Australia/TOKYO, Dec 17 (Reuters) - Sprawled across a spent volcano on the remote edge of the Great Victoria Desert in Western Australia, the Mount Weld mine seems a world away from the U.S.-China trade war. But the dispute has been a lucrative one for Lynas Corp , Mount Weld’s Australian owner. The mine boasts one of the world’s richest deposits of rare earths, crucial components of everything from iPhones to weapons systems. Hints this year by China that it could cut off rare earths exports to the United States as a trade war raged between the two countries sparked a U.S. scramble for new supplies â?? and sent Lynas shares soaring. As the only non-Chinese company thriving in the rare earths sector, Lynas shares have gained 53% this year. The shares jumped 19 percent last week on news that the com
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