In an article in The New York Times written by KEITH BRADSHER and published on March 8, 2011, it stated:
Nicholas Curtis, Lynas’s executive chairman, said it would cost four
times as much to build and operate such a refinery in Australia, which
has much higher labor and construction costs. Australia is also home to
an environmentally minded and politically powerful Green party.
Despite the potential hazards, the Malaysian government was eager for
investment by Lynas, even offering a 12-year tax holiday. If rare earth
prices stay at current lofty levels, the refinery will generate $1.7
billion a year in exports starting late next year, equal to nearly 1
percent of the entire Malaysian economy.
Today, The Malaysian Insider reported the Science, Technology and Innovation Minister Datuk Seri Dr Maximus Ongkili as saying, “They (Lynas Corp) are the investors coming here. We are here to
invite investors, of course, we are here to facilitate, but we are not
going to work for you. You have to go and get (the permission). You must take (your) waste
out of (this) area... It is up to you, I am not going to help you.”
Indeed, Malaysia is a cheap country for Lynas.
It has already saved four times even before building the refinery!
On top of that, it gets to have a 12-year tax holiday! What more can an investor ask for?
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