Lynas Receives Court Filings Seeking Delay to Malaysian Plant
Lynas Corp. (LYC), an Australian mining company building the world’s largest refinery of rare earths in Malaysia, said a group of people who live in the region have begun court action to review the plant’s operating licence.
“The application seeks the court’s permission to” review the decision by the Malaysian Atomic Energy Licensing Board to grant a temporary operating licence to start the plant, the Sydney-based miner company said today in a statement. The application also seeks to delay the plant’s start up, it said.
Lynas has been served with court documents relating to the board’s decision, the company said. Malaysia’s government said yesterday it will set up a monitoring unit to undertake a construction audit to ensure that the refinery plant complies with all standards imposed.
Lynas shares fell 2.3 percent to A$1.26 at 10:17 a.m. Sydney time.
To contact the reporter on this story: Soraya Permatasari in Melbourne at soraya@bloomberg.net
To contact the editors responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net; Andrew Hobbs at ahobbs4@bloomberg.net
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