Mar

8

Rare Earths, from Craig Mee

March 8, 2011 |

Nick Curtis made a $5 million contrarian bet in 2002 to develop an Australian rare earth mine, aiming to challenge China's control of global supply of the metals. His company, Lynas, now has a market value of $3.5 billion.

The reform process in China in the metals sector goes through a period of unfettered competition leading to chaos followed by which the state tries to get control of things again," Curtis said.

New supply

Sydney-based Lynas, the second-best performer on the benchmark S&P/ASX200 index last year, is set to become the first new source of supply outside China in at least two decades with the start up this year of the $535 million Mt Weld project, the world's richest deposit of rare earths according to Lynas.

rest here.

I bought this stock on the day before the crash in 87. Cheers! It was demolished at the time. Though I got my brother in too, no doubt he bottom drawed it. Time to let him know the good news! 24 years. Gees it went quick. Many stocks reinvent themselves, just like the wheel. 


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