LYC 4.55% $1.67 lynas corporation limited

News: LYC Malaysia sets licence renewal conditions for rare earths miner Lynas, page-3

  1. RVR
    3,861 Posts.
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    Here’s my translation of Exec Summary
    What the hell does it mean??

    EXECUTIVE SUMMARY
    LYNAS ADVANCED MATERIALS PLANT (LAMP) OPERATION EVALUATION EXECUTIVE COMMITTEE 2018

    The Cabinet meeting on September 26, 2018 agreed with the establishment of the Lynas Advanced Materials Plant (LAMP) Executive Appraisal Committee which aims to assess the operation of LAMP in terms of safety, human health and the environment.

    The Executive Committee comprises six members comprising experts in relevant fields. Based on scientific facts, legal definitions and information derived from experts, the LAMP project is a chemical plant producing rare earths instead of nuclear plants or mining activities. There is confusion among the general public in assessing the impact of radiation from the rare earths extracting plant containing Naturally Occurring Radioactive Materials (NORM) as compared to nuclear plant or plant producing thorium or uranium.

    In general, LAMP has complied with the rules set out under the major acts encompassing the Atomic Energy Licensing Act 1984 [Act 304], Environmental Quality Act 1974 [Act 127], Factories and Machinery Act 1967 [Act 139], Safety and Health Act Employment 1994 [Act 514] and the Industrial Co-ordination Act 1975 [Act 156].

    However, the Executive Committee has recommended some improvements which include aspects of residual management, monitoring of healthier and periodic health surveys, a special study to identify the causes of heavy metal presence and groundwater monitoring in the vicinity of LAMP, to develop a more effective communication strategy targeted groups namely the general public and non-governmental organizations (NGOs) in addressing issues of conflict more clearly and effectively with reference to more accurate and up-to-date facts, establishing a monitoring committee whose membership comprises the ministry / relevant experts, identified representatives from NGOs, local community representatives, Lynas management and other stakeholders.

    The Executive Committee recommends that the government look at the development of the industry holistically to create appropriate ecosystems supported by legislation, governance, education, human capital development, R & D and I (research and developmentand innovation) and ethics that meet the latest international standards to achieve development and sustainable investment.
 
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