LYC 2.69% $2.53 lynas corporation limited

THE...

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    THE EDGE

    https://www.theedgemarkets.com/…/malaysia-govt-pleased-rare….
    .

    MALAYSIA GOVERNMENT "PLEASED" WITH RARE EARTHS FIRM LYNAS' PLANS TO MOVE ORE PROCESSING - CEO.
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    May 24, 2019 17:20 pm +08
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    KUALA LUMPUR (May 24): The chief executive of Australian rare earth metals producer Lynas Corp said on Friday that feedback from the Malaysian government relating to its plans to move initial ore processes out of the Southeast Asian nation has been
    favourable.
    .
    In a strategic growth plan to 2025 unveiled last Tuesday, Lynas said it intends to build an initial ore processing plant in Western Australia that would help it overcome political headwinds in Malaysia. The operating licence for Lynas' processing plant in the country, due for renewal in September, is under threat on concerns over waste disposal.
    https://hotcopper.com.au/data/attachments/1564/1564421-d56641f1ab090e4f631a0041d93f6154.jpg

    .
    "The feedback is that the government is particularly pleased with what we are looking at in terms of the shift of cracking and leaching (to Australia)," Amanda Lacaze, chief executive officer told Reuters in a telephone interview, referring to processes involved in initial ore extraction.
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    The strategic growth plan is contingent on Lynas securing renewal for its Malaysian licence………..
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    Malaysian Prime Minister Tun Dr Mahathir Mohamad had said in April that Lynas or any other company will need to clean raw materials coming to Malaysia in order to operate in the country.
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    Lynas CEO Lacaze said the company has also submitted a proposal with two options for clearing out its current waste in Malaysia, which will require the approvals of the energy and environmental ministry.
    .
    Lynas said it could reuse the waste by processing it into a soil enhancer, as well as storing the waste in a permanent disposal facility.
    .
    "We have done the work to identify how the residue can be reused," Lacaze said. "We have done the work to identify how and where we would construct a permanent disposal facility."

    Last edited by hw looi: 25/05/19
 
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