KUALA LUMPUR, May 8 — Australian miner Lynas Corp will seek a legal review of its licensing conditions in Malaysia after it was granted a six-month extension to meet the...
KUALA LUMPUR, May 8 — Australian miner Lynas Corp will seek a legal review of its licensing conditions in Malaysia after it was granted a six-month extension to meet the requirements for producing radioactive waste at its rare-earth plant in Kuantan, Pahang.
The company said that it will take advantage of the legal avenues provided by Malaysia to review its licence conditions. “Lynas has made significant investments in its Malaysian facility and will seek review through these processes in respect of the conditions to ensure that Lynas is treated fairly and equitably as a Foreign Direct Investor and as a significant employer and contributor to the Malaysian economy,” it said in a statement today.that Lynas Malaysia had been granted an extension under conditions that must be strictly adhered to.
However, Lynas maintained that the process did not release extraordinary levels of radiation to the environment around its Gebeng facility, which accounted for half of all rare-earth elements supplied excluding China. Rare-earth elements are essential for producing high-tech applications such as electric vehicles, smartphones, and military equipment; global supply is currently controlled by China which accounts for 80 per cent of the market.
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