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Old 09-05-2012, 01:35 PM
Sparty Sparty is offline
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Default Lynas gets temporary operating license

PETALING JAYA: The Lynas Advanced Materials Plant (LAMP) in Gebeng, Kuantan has been issued a two-year Temporary Operating Licence (TOL).
In a statement, the Atomic Energy Licensing Board (AELB) said it was satisfied that Lynas has fulfilled all technical aspects, including dust control measures and radioactivity immobilisation methodologies in its residue management system, and all regulatory requirements.


AELB also noted that Lynas had made a commitment to remove water leach purification residue from Malaysia.


"In this regard, the Board has decided to issue the TOL to Lynas, effective for two years from Sept 3 this year to Sept 2, 2014," it said on Wednesday.
"The TOL will enable Lynas to conduct trial processing of lanthanide concentrates in stages and in limited quantities under close and continuous surveillance by the authorities."


Meanwhile, Lynas Corp executive chairman Nicholas Curtis said in a statement that LAMP was expected to commence the transport of rare earth concentrate into the country next month.


"If Lynas complies with safety standards, the TOL would be converted into a full operating license over the next two years, Curtis said. He added that the refinery would also process waste into co-products that could be exported from Malaysia." More



At last a glimmer of common sense from Malaysia, but it will take a long time before I will invest in Malaysia again and I think that they have done irreparable damage to their country's long term investment case, at least according to the investors I have talked to.

More about Australia's ASX listed rare earth projects at www.australianrareearths.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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