Regulators approved an operating licence renewal for Lynas' M'sian unit but did not lift conditions set on the company. Read more at straitstimes.com.
MELBOURNE - Malaysian regulators approved an operating licence renewal for Australia’s Lynas Rare Earths’ Malaysian unit, the company said on Tuesday, but the regulators had not lifted conditions that stop it from importing and processing rare earths concentrate after July 1.
“After 10 years of safe operation in Malaysia we are disappointed that the conditions that were applied to our 2020 operating licence remain,” Chief Executive Amanda Lacaze said in the statement. Lynas produces Neodymium and Praseodymium used in magnets in high tech sectors from electric vehicles to military applications.
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