SYDNEY, Oct 20 ― Australia's Lynas Rare Earths said today it planned to shut all operations in Malaysia except a mixed rare earth carbonate processing plant in the December quarter, with minimal volumes of the raw material processed during the shutdown.

Shares of the miner fell as much as 2.7 per cent to A$6.24 (RM18.80) by 0045 GMT, the lowest since May 3.

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Lynas' Malaysian operations have been a sore point for the company, with the country's government raising concerns about the radiation levels from cracking and leaching for the last couple of years and Prime Minister Datuk Seri Anwar Ibrahim warning of a policy to ban exports of rare earth raw materials.

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It will implement an upgrade to its downstream operations at Lynas Malaysia to increase production of neodymium-praseodymium (NdPr) to about 10,500 tonnes per annum.

This upgrade will be essential if the company's Malaysian operating licence, which has a condition that bars the miner from importing and processing rare earth raw materials from January 2024, is updated to allow the continued import and processing of Lanthanide concentrate, it said.

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During the shutdown, which starts in mid-November to complete upgrading works, key personnel from the Malaysian cracking and leaching plant will be deployed to assist with the start-up process of its rare-earths processing facility in Kalgoorlie in Western Australia.

Lynas, whose operating licence in Malaysia had been extended until January 2024, said application for a stay to allow it to operate on a normal basis in Malaysia while administrative and legal appeals are heard and decided has been listed for hearing in November.

The world's largest producer of rare earths outside China also reported a 21.8 per cent drop in its first quarter sales revenue to A$128.1 million. It missed a consensus estimate of A$159 million, according to Barrenjoey.

“The production report looks a little underwhelming and plenty of maintenance issues to come which is not helpful,” said Henry Jennings, senior market analyst at Marcustoday.

NdPr production for the quarter came in at 1,526 rare earth oxide tonnes (REOt), compared with 1,045 REOt a year earlier. ― Reuters

So... victory for Madani?

GG.com, MYR 5 : 1 USD inkambing

Victory for DAP

hidup PH!

wats the health damage done since operations here?

So the waste they gonna dump here?

Oh yeah!!

Wong tuck mana ?

Radioactive processing, already know it's radioactive but dun want to do in own country, want to do in other country on the pretext it will help provide revenue n jobs. Very clever

See see ..ini semua Jasa Madani

Janji dicapati



This post has been edited by fantasy1989: Oct 20 2023, 09:50 AM

Temporary shutdown for upgrading

kena booted out from DAP

just a partial shut down for 3 months for maintenance work. budak sekarang punya english

but then kedah making their own REE factory, malaysia gone case sooner or later

This post has been edited by LazadaGot: Oct 20 2023, 09:52 AM

Stupid/selfish$ for those that accept it to operate here in the first place

Bodo, shut down in Dec only for upgrade

West dump their shit on us while ownself claim to be green and eco-friendly

even lynas ditch malaysia?

good. health is more important

Hope to close and to to cease operation forever. Enough for being waste dump.