There is an off take agreement with Sojitz - or there was, and I'm not aware that the company has told us that it has been cancelled. 8,500tpa (plus or minus 500tpa) from Phase 2.
It doesn't really matter what sort of debt you have, the provider will need to know how their money is going to be repaid. Lynas have income in US$ so they would be eligible for that sort of loan, except for the fact that each quarter they spend more US$ on keeping the plant running than they receive, so there is no money left to repay the debt. Hence why the debt refinancing failed last year, nobody wants Lynas' debt in it's current position.
ML173, I think Sojitz made it quite clear that they want their money back, last March, NOW, please. Lynas couldn't oblige, so they (Sojitz) were forced to re-schedule the loan or put Lynas into administration. I don't think Sojitz are interested in part ownership of a plant that isn't working properly over two years after FFTK, it's not the Japanese way.
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