Friday, September 7, 2012

Rare Earth Source Unlocked in Malaysia

SYDNEY (WSJ)—Australian company, Lynas Corp., won their battle to open a strategic minerals’
Lynas Corp plant in Pahang, Malaysia
processing plant in Malaysia. The Malaysian Atomic Energy Licensing Board (AELB) statement approving  a two-year temporary operating license for a rare-earth refinery in Pahang was released on 3 September 2012.  The processing of rare earths from Western Australia's mines is planned to begin next month. . The AELB held off final approval of the project after protests concerning the perceived radioactive waste hazard.  Source: Rare Earth Boost From Lynas Win (Reliability: High)
Comment: Shares in Lynas closed up 41 percent a share on Thursday. Lynas intends to produce one-sixth of the world’s supply of rare earths after reaching full capacity. 

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