Lynas Corporation (LYC)

Shares / Stock Code

LYC

Stock Exchange / Sharemarket

ax

Lynas Corporation (LYC) is a mineral explorer with operations mainly held in Australia. The principal business operations of the Company include the exploration and development of rare earths deposits as well as the discovery of other mineral resources. Lynas listed on the Australian Stock Exchange on 11th of September, 1986. The Company is also focused on the planning, design and development of a concentration facility and advanced materials processing unit. LYC holds the richest deposit of rare earths present in the Mt Margaret Mineral Field which is located 35km south of Laverton in Western Australia. Lynas is actively involved in the development of this deposit. The Company also aims to establish a customer base through the provision of its Rare Earths Direct (RED) service. LYC intends to establish a complete integrated supply system comprising operations from mining and processing to customer delivery. According to the world market potential and the resource estimations, LYC is capable of providing up to 25% of the global market.

Lynas Corporation History

Lynas Gold NL was formed in 1983, in Western Australia. It commenced its operations as Yilgangi Gold NL but later it was renamed in 1985. It listed on the ASX on 11th of September, 1986. Until 2001, Lynas was focused on gold production in Western Australia. In June 2001, Lynas went through a management change after which it sold its Paraburdoo Gold Project interest to Sipa Exploration NL and moved its headquarters to Sydney. The Company’s current operations are focused on Rare Earths and the high-grade deposit at Mt Weld.