Malaysia’s government says it will allow Lynas Rare Earths to continue to import and process rare earths until March 2026. Science Minister Chang Lih Kang said licensing conditions that called for the Australian miner to halt all activities producing radioactive waste have been lifted.
Malaysia’s Minister of Science, Technology and Innovation Chang Lin Kang speaks during a press conference in Kuala Lumpur, Malaysia, Tuesday, Oct. 24, 2023. Australian miner Lynas Rare Earth has won a reprieve until March 2026 to continue its activities in its Malaysian plant that produce radioactive waste material.
Science Minister Chang Lih Kang said the two conditions for renewing Lynas’ license had been met after the company proposed a way to extract thorium, the radioactive element, from the raw rare earths it imports and from the more than 1 million tons of waste sitting at its factory.Malaysia will cut subsidies and tax luxury goods as it unveils a 2024 budget narrowing the deficitChang said the government’s about-turn was not a softening of its stance.
Lynas said in a statement it will raise its research and development investment from 0.5% to 1% of its Malaysian gross sales, to develop methods to remove naturally occurring radioactive material from residues.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Malaysia allows Lynas to import radioactive raw material until 2026Malaysia on Tuesday amended Lynas Rare Earths' operating licenseto allow the Australian firm to import raw materials containing natural radioactive material and process rare earths until March 2026.
Read more »
Seattle gears up for 2026 World Cup: Aiming to create lasting legacy, boost local tourismSeattle is 1,000 days away from an event that the host committee says will parallel the 1962 World’s Fair, and that excites Lisa Chin.
Read more »
2026 Mercedes-AMG GLE 53 Plugs Into The Future, Gets PHEV Powertrain With Extra 107 HPThe 2026 GLE 53 Hybrid will use a 3.0-liter inline-six and an electric motor to produce a combined output of 536 hp
Read more »
Samsung SDI to supply EV batteries to Hyundai Motor starting 2026South Korea's Samsung SDI (006400.KS) said on Monday it will supply Hyundai Motor (005380.KS) with electric vehicle (EV) batteries for seven years starting 2026, marking the first battery supply deal between the two companies.
Read more »
Samsung SDI to supply EV batteries to Hyundai Motor starting 2026Samsung SDI to supply EV batteries to Hyundai Motor starting 2026
Read more »
We're buying more shares of this emerging AI company on shortsighted weaknessRevenue gains from AI are coming, providing us confidence in management's ability to deliver on its fiscal 2026 financial goals.
Read more »