LYC 5.30% $5.54 lynas rare earths limited

petrol bombs!!! , page-4

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    "With momentum shifting strongly since the last election, the National Front faces a real danger of losing the next poll, expected to be mid-next year, having held power since the country's independence in 1957.

    It is against this political backdrop that Lynas is trying to build the world's largest rare-earths refinery plant in Kuantan, capital of the central Malaysian state of Pahang. The company's success hinges heavily on the plant - all its rare earth ore concentrate will be processed and exported from the facility.

    But for Lynas, the plant's construction has become a hotly contested political football. And a change in government could spell big trouble.

    Local Kuantan MP Fuziah Salleh, a member of the opposition People's Pact alliance, has attracted fervent support for her aggressive campaigns against the plant's construction.

    The genial grandmother of six has questioned the government's decision to award a 12-year tax exemption to a foreign company that would ship its profits offshore and leave the town saddled with "tonnes and tonnes" of radioactive waste."

    The above extract from the recent SMH article posted by kmsmith is a little concerning as an issue that's not going away. Sure, one can come up with very good reasons for not being concerned, one being that if the LAMP was stopped it would destroy Malaysia's credibility as an investment destination etc. but it is creating a niggle in the background.
    However, having given the matter some thought it does seem as though a resolution to the opposition to Lynas, something that may ultimately be required, may lie in the reference in the last paragraph to Fuziah's questioning of the decision to grant Lynas the 12 year tax exemption. It may just be that a revamp on that part of the agreement may sort the problem out. Just food for thought & I would welcome any comments.
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