LYC 1.65% $6.15 lynas rare earths limited

the autralian toxics network have put out a negative report on...

  1. 6,296 Posts.
    lightbulb Created with Sketch. 39
    the autralian toxics network have put out a negative report on lynas:

    http://www.ntn.org.au/wp/wp-content/uploads/2012/04/Lynas-EIA-Assessment-Report-NTN-April-13-final.pdf

    Author: Lee Bell BA MA (ESD) Senior Researcher National Toxics Network
    This report has been peer reviewed by senior industrial chemist
    David Munut BSc (Chem) MRACI CCHEMA Preliminary Waste Stream Assessment of the LAMP, Gebeng, Malaysia.



    Executive Summary



    Lynas Corporation, an Australian based mining company are constructing a rare earth processing plant, known as the Lynas Advanced Materials Plant (LAMP) in Gebeng industrial estate in Kuantan, Malaysia. The LAMP will process lanthanide concentrate which will be trucked from the mine site in Mt Weld Western Australia to the Port of Fremantle where it will be shipped to Malaysia. This report provides an assessment of the emissions from the LAMP plant rather than Lynas Corporation?s activities in Western Australia. The LAMP plant will have significant atmospheric, terrestrial and waterborne emissions of toxic chemicals and radionuclides including uranium, thorium and radon gas.

    The LAMP is poorly situated for a refinery with large scale emissions – particularly radioactive tailings. The high rainfall, low evaporation and unstable geotechnical environment create elevated risks for the radioactive tailings waste and dramatically increase the risk of environmental contamination. Serious questions have also been raised by Lynas? consulting engineers and materials suppliers about poor construction methods for the LAMP which will leave it open to critical process failure risks and environmental contamination.

    The most significant source of pollution from the LAMP will be the solid waste or tailings. Due to local environmental conditions and technical limitations of containment cells it is highly likely that the radioactive waste will contaminate groundwater within months of deposition on the site. Lynas and the Malaysian Atomic Energy Licensing Board have failed to meet the International Atomic Energy Agency?s requirements regarding long term plans for the radioactive solid waste.

    The LAMP radioactive waste will require isolation from the environment for hundreds of years. Current disposal plans are likely to lead to groundwater contamination within months. Alternative plans to convert the waste into product are also flawed based on similar approaches, using similar waste in other jurisdictions. Radiation and contaminant levels proved to be a barrier to commercialisation. Airborne particulate contamination from the residue ponds also appears inevitable.

    Contamination of the Balok River and receiving marine environment are highly likely based on the poor waste water discharge limits set by Malaysian authorities. These limits do not equate with international best practice for waste water discharge. Radionuclide contamination of waterways and aquatic biota has been poorly addressed in Lynas? Environmental Impact Assessment (EIA) documentation.

    Atmospheric contamination by acid gases will eventuate if the flue gas pollution scrubbers are not maintained in pristine condition or are incapacitated by power outages. It is to be expected that emissions of SOx, HF and NOx will exceed international guidelines if the scrubbers deteriorate in efficiency over time. Fugitive emissions from waste and concentrate stockpiles also present a significant hazard. Approval for the LAMP should not have been issued on the basis of the EIA provided by Lynas due to inadequate analysis of environmental impacts and predictive modelling and their failure to meet IAEA requirements for permanent disposal.




    the paper is from April. it was brought to my attention by jamie parker, who seems happy to accept its findings, yet wont even return emails from Lynas regarding briefings...
 
watchlist Created with Sketch. Add LYC (ASX) to my watchlist
(20min delay)
Last
$6.15
Change
0.100(1.65%)
Mkt cap ! $5.748B
Open High Low Value Volume
$6.18 $6.37 $6.08 $26.63M 4.279M

Buyers (Bids)

No. Vol. Price($)
3 17840 $6.14
 

Sellers (Offers)

Price($) Vol. No.
$6.17 8880 1
View Market Depth
Last trade - 16.10pm 26/07/2024 (20 minute delay) ?
LYC (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.