NEW YORK (SA) -- Lynas and Molicorp represent the two most significant rare earth market players outside of China. While Malaysian authorities gave permission for the Australian-based Lynas to open up its rare earth processing plant, a lot of Malaysians protest it and promised to block shipments from Australia. The ruling political coalition controls news sources in Malaysia, which normally would make an effective protest almost impossible. In spite of this fact, the protesters, using social media like Facebook, Twitter and Blogspot with the support of opposition politicians, made their case well-known in Malaysia and all over the world. Moreover, Lynas CEO Nicholas Curtis admitted he did not recognize the power of social media. This unprecedented role of social media in Malaysia underlines the fact that it can threaten or even destroy a company's position in any country. Source: Buy Lynas: Intriguing Hybrid Asset Class(Reliability: Medium)
Comment:Social media produces its content extremely cheaply, while being sometimes inaccurate but immediate in its impact.