Lynas confirms talks of rare earths mega-merger with MP Materials

News Snapshot:

The talks with MP Materials came on the back of a collapse in prices and the new Chinese trade restrictions. The MP Materials share price jumped some 6.5 per cent in trading in New York on Friday after the Financial Review reported the merger discussions. MP Material has a market capitalisation of $US2.87 billion ($4.4 billion). Like Lynas, with a valuation of $5.3 billion, it has suffered a steep fall in market capitalisation amid steep declines in prices for rare earths materials. China banned the export of rare earth extraction and separation technologies in December in a move to protect...