<P> Lynas was founded by Nicholas Curtis, a former executive director at Macquarie Group Ltd . </P> <P> Mount Weld contains one of the largest and highest grade known deposits of rare earths . The deposit is additionally unusual because it contains very low levels of thorium, a radioactive contaminant commonly found together with rare - earth elements . The combination of large resource, high grades and low thorium contamination make it a particularly attractive commercial proposition . The ore produced at Mount Weld is concentrated onsite and is intended to then be shipped to the Lynas Advanced Materials Plant (LAMP) in Malaysia for refining . </P> <P> In May 2009 Lynas was offered funding of $252 million by the Chinese state - owned China Non-Ferrous Metal Mining (Group) Co., which would have taken a 51.6% stake in the company . However the deal was scrapped by Australia's Foreign Investment Review Board on concern it would threaten supply to non-Chinese buyers . Lynas later raised $450 million in a share sale . </P> <P> In November 2010, it signed an agreement with the Japanese rare - earths trading company Sojitz to export € 450 million Euros worth of rare - earth minerals from its mine in Mount Weld . </P>

Malaysia government to review australia rare earths plant