KUALA LUMPUR, May 7 — Malaysia has granted Australian miner Lynas Corp a six-month extension until January 2024 to comply with a ban on producing radioactive waste as its rare-earths plant in Kuantan, Pahang.
The Straits Times today reported that Lynas was notified of the extension following an appeal hearing on April 28, ahead of an expected announcement this week.
Science, Technology and Innovation Minister Chang Lih Kang reportedly made the decision due to the current geopolitical importance of rare earth elements.
Rare-earth elements were essential for producing high-tech applications such as electric vehicles, smartphones, and military equipment; global supply was currently controlled by China that accounted for 80 per cent of the market.
