Malaysia's government said Tuesday it will allow Lynas Rare Earth to continue to import and process rare earths until March 2026, after the Australian miner proposed a new technology to extract radioactive elements from the waste it produces.The Lynas refinery in Malaysia,...
KUALA LUMPUR, Malaysia — Malaysia's government said Tuesday it will allow Lynas Rare Earth to continue to import and process rare earths until March 2026, after the Australian miner proposed a new technology to extract radioactive elements from the waste it produces.
Science Minister Chang Lih Kang said the two conditions for renewing Lynas' license had been removed 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.Chang 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.
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