Ann: Malaysian Operating Licence Update, page-74

I don't know why some people on here keep insisting on pedaling this fasle narrative that Lynas pursed operations in a south eastern Asian country to take advantage of light environmental regulations and standards in some bid to hood wink the local population for something that would not fly back in Australia.

Lynas was invited and incentised to set up shop in Malaysia by the Malaysian government of that time. They were gifted the land LAMP sits on if I am not mistaken. And they get concessional tax treatment there for the first 10-15 years of operations.

Lynas has a 98% Malaysian work force. And those people are paid 4 times higher then other people in the local area.

As for environmental. Lynas has done more then what is required to be an upstanding, stainable, corporate citizen. By international standards Lynas concentrate and WLP by product Is NOT radioactive. That's a fact. Only once the containers reach the Malay port are they labelled radioactive to meet Malaysias tougher standards.
The western Australia government has approved Lynas to crack leech and dispose of WLP in Kalgoorlie. So clearly Lynas did not go to a foreign country in a bid to dispose of waste by products that otherwise would not have been acceptable in Australia. If anything it is the complete reverse.
There have been no less then 4 independent scientific to verify and confirm Lynas operations are not bringing any harm to local environment.

Placing my share holding aside the real losers here are the every day Malaysian people, cheated out of the opportunity Lynas could have been for their country to be a global player in the rare earth sector and the benefits that come with that. For nothing more then petty local politics and settling old scores.

Lynas will withdraw from the country over time. Local Malaysians will lose their jobs once cracking and leeching finishes in 2024, and as will the local businesses that support the company. And further more any new foreign investment will likely be off the table until confidence can be restored.