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Lynas Corporation reveals a New York based substantial shareholder

Lynas Corporation mines rare earth elements from Mt Weld.
Lynas Corporation reveals a New York based substantial shareholder
Lynas has a market cap. of circa $900 million

Lynas Corporation Ltd (ASX:LYC) has received a notice of initial substantial holder from Mount Kellett Capital Management LP.

Mount Kellett is a New York based fund manager with over US$2 billion in funds under management.

Lynas has been a strong performer recently, benefiting from an increase in rare earth prices.

Shares in the company have been trading in the $0.18 to $0.21 range, which is over three-times higher than 12-months ago.

Lynas mines rare earths from Mt Weld in Western Australia, and then ships the concentrate to Malaysia where it is refined by separating the various rare earth elements.

The company's key customers are in Japan and China, with the end products used in a variety of industries including automotive.

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Lynas Corporation Timeline

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