Rare-Earths Win in Malaysia Sends Lynas Shares Soaring
- Key plant gets extension to March 2026 after facing suspension
- Decision will protect the people’s interests, minister says
The Lynas Rare Earths plant in Kuantan, Malaysia.
Photographer: Goh Seng Chong/Bloomberg
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Shares in Lynas Rare Earths Ltd. rallied after Malaysia reversed an earlier ruling that had threatened the future of one of the few rare-earths plants outside China.
The Australian firm will be allowed to continue importing and processing of key raw materials for its operations in Malaysia until March 2026, the country’s Minister of Science, Technology and Innovation Chang Lih Kang said in a statement. Lynas had challenged an earlier ruling that would have halted the so-called “cracking and leaching” plant at the start of 2024.