LYC 2.86% $6.11 lynas rare earths limited

"Lynas won't be able to execute the Temporary Operating Licence...

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    "Lynas won't be able to execute the Temporary Operating Licence for one week pending the application for a permanent stay," Tan Bun Teet, spokesman for the group Save Malaysia Stop Lynas, told Reuters.

    Perhaps Tan should consider the large scientific evidence that shows the rare earths plant is indeed safe, with even experts from the UN's International Atomic Energy Agency (IAEA) declaring the plant safe last year.

    Lynas had received the TOL from the Malaysian Atomic Energy Licensing Board (AELB) on September 5, enabling it to start production as early as October.

    Protestors are now trying to stall the TOL until their judicial review cases challenging the Government's decision to allow the plant to operate are heard. The Kuantan High Court decision on Tuesday means the hearing for the permanent application will be held on October 4.

    But this continued stalling of the project is not in the national interest.

    The RM2.5 billion Lynas plant could produce about a sixth of the world's supply of rare earths when it reaches full production. Rare earths are used in products ranging from electric car batteries to smartphone touch screens.

    China currently account for about 95 per cent of global output, and steps by the country's government to limit exports have stoked worldwide concern over a potential supply shortfall and over-reliance on a single source for the raw materials.

    In fact, the protestors shouldn't forget that Malaysia is a member of a unique global club. It is one of the dozen or so countries, including China, which has reserves of rare earth elements.

    With 30,000 tons of reserves, Malaysia is a small player but can use its reserves to great effect. As demand for green technology grows, the use of rare earth elements will increase even further, as these are essential for environmentally-friendly products such as wind turbines and electric cars.

    Lynas finished construction on the first phase of its plant in August, moving the company closer to its goal of breaking China's grip on the industry.

    Yet the refinery has been the target of a vicious misinformation campaign by Opposition-supported groups seeking to discredit the Malaysian Government.

    Till recently pro-Opposition websites were having a field day claiming that the Lynas plant was unsafe, in spite of the volume of scientific evidence that showed the rare earths plant is indeed safe.

    Their irresponsible stance was brought down to earth with Lynas suing them for defamation. Free Malaysia Today publicly apologised, admitting that its allegations did "not have a scientific basis".

    "The regulatory review of the Lynas plant has been thorough and diligent," FMT said in a statement in July.

    The Australian firm had correctly stood its ground in the face of the online frenzy, and its stand was vindicated.

    The Government has also ensured that the plant will meet all global safety requirements, including plans to immobilise any radioactive elements in the waste it will produce and an emergency response plan on dust control. Lynas will remove the waste from any proximity to habitation to assuage any concerns that the local community may have.

    Once operational, the Lynas plant would be the world's biggest refinery for rare earths, and the first to be set up outside China in nearly three decades. It would allow Malaysia to develop its own expertise in processing rare earths, a technology that few countries possess.

    It is therefore in Malaysia's interest that this strategically important facility is allowed, to expand our green technology base and create local jobs.

    But the national interest probably means nothing to the few protestors who want to stall the project for their own selfish agenda.

    It is time now for these protesters to stop misusing the legal process, and to accept that the plant is safe. Trying to force a legitimate plant to cease operations merely to score political brownie points, speaks volumes on how their personal interests have blinded the protestors to the larger national interest.
 
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