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LYNAS to export residues LAMP phase one complete
MEDIA RELEASE
28 August 2012 LYNAS Phase One LAMP complete Lynas Corporation Limited ("Lynas") (ASX:LYC, OTC:LYSDY) has completed Phase One construction of the Lynas Advanced Materials Plant in Malaysia. "Lynas has been developing its Rare Earths project for over ten years based on our very rich deposit in Western Australia. We are now poised to play an important role in this critical global market," said Lynas Executive Chairman, Nicholas Curtis. "Like everyone at Lynas, I am eagerly anticipating the commencement of operations at the LAMP and being able to supply our customers with product later this year. I would like to acknowledge the dedication of our staff and contractors, the patience and understanding of our investors and customers, and the diligence of the Malaysian regulators and international experts." "Lynas has total commitment to strong safety, health, environmental and community value and is absolutely determined to achieve its Zero Harm goal. Our commitment to safety extends from the design and construction of the LAMP through to commissioning, operations and continuous improvement.? Lynas recognises that there has been a very open and vigorous debate within parts of the Malaysian community about the Lynas Project. Despite the scientific data and intensive scrutiny from international experts demonstrating that the project is safe, certain sections of the community remain anxious about the project." The principal cause of the community anxiety has to do with storage and management of residue resulting from the refining process. To address this community concern, Lynas undertakes to ensure that all the material that is causing the major concern to the Malaysian public is removed through conversion into co-products, and exportedin a form acceptable for international markets and in accordance with all Malaysian regulations and international conventions." In addition, Mr. Curtis said that Lynas would also continue its community engagement and education and awareness programs in Malaysia. ?Lynas wants to help to develop an advanced industrial base in Malaysia focused on high technology manufacturing using Rare Earths,? Mr. Curtis said. ?The LAMP will provide additional opportunities for Malaysia to share in this strategically important role by encouraging investment in downstream manufacturing of Rare Earth-based products such as components for the automotive industry, IT and computer equipment, consumer/industrial electronics, as well as for newly established industries such as solar power, biotechnology and nanotechnology.? For further information please contact Alistair Reid or Liz Whiteway on +61 2 8259 7100 or visit www.lynascorp.com
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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More news re Lynas
Lynas says plant will play important role in global market
Sin Chew Jit Poh KUALA LUMPUR, Aug 28 (Bernama) -- Lynas Corp Ltd, which has completed construction of Phase One of the Lynas Advanced Materials Plant (LAMP) in Malaysia, is now poised to play an important role in a critical global market. "Lynas has been ... Lynas' Phase One LAMP CompleteBernama Lynas comes up with innovative shared value initiative - New Straits Times New Straits Times KUALA LUMPUR: Lynas Corporation has announced plans to invest in a range of programmes aimed at building an innovative approach to creating shared value in host communities. Lynas Executive Chairman Nicholas Curtis said the initiative was ...
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
#3
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It would seem highly likely that LYC will now get the LAMP up and running and thus help fill the looming supply crunch for many of the rare earth elements.
As noted in many press articles China has increased its export quota for the relevant REEs by around 2.5% but this would go no-where near the supply deficit that would result in LYC being held up beyond 2013. Molycorp's recent problems will add to the supply deficit and it will be more than 18 months for Alkane to get into REE production. Personally, I wonder what was behind the Malaysian problems. A concerned but ignorant local population or something far more sinister. If we were to "follow the money" then there is a likely culprit.... hopefully the Malaysian authorities will do some forensic accountancy and put to rest the fear that a third country may have been involved in the funding of the LAMP protest.
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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