RE:RE:RE:RE:RE:New Web Site up!!Pip, MPM have exactly the same problem as Moly, they do not have a natural customer base at anywhere near the scale required to support a sustainable business of any size.
The greatest con in the RE space is that it is some great big mkt worth $quillions when the reality is that it is quite small, in fact tiny outside China.
Consider total annual REO production would not even half fill one of the IO bulk carriers, have a look here for the last 3yrs of Chinese exports by country by product:
https://chinapower.csis.org/china-rare-earths/
Given Lynas has the capacity already to supply far more magnet material than ROW can absorb and they make up 70/80% of revenues, Lynas already has all the major japanese customers and most of the smaller ones locked up.
There will be no additional ROW mkt until additional NdFeB capacity is added, and that needs to be competitive with the Chinese & Japanese who have been developing the expertise for 30yrs, remembering ~1500tpa NdPr would produce the ~5000tpa Chinese NdFeB imported into US ATM.
Where is the mkt for MPM to survive this time? Doubt they'd be competitive selling NdPr into the Dragon, the concentrate must be marginal ATM.
Sure we'll see demand growth next few years but ATM it is China that is set up to meet that growth, in magnets, in motors, in BEV, and they are growing wind gen, robotics, automation, etc.
ROW needs more magnet making capacity, competitive with China, before it needs more REO.