Well, I was going to buy back in - but not now. Wait until next...

Well, I was going to buy back in - but not now. Wait until next year I think.

http://www.bloomberg.com/news/2011-06-29/malaysia-to-put-safety-terms-on-lynas-plant.html

Lynas Corp. will only be granted an operating license for a Malaysian rare-earth refinery if it implements recommendations made by a panel of experts appointed by the International Atomic Energy Agency, an official familiar with the matter said.

The Sydney-based company will need to satisfy 11 conditions, including technical and safety measures as well as a decommissioning plan for the plant nearing completion in Malaysia?s eastern Pahang state, said the person, who couldn?t be named as the information is confidential. This may take about one year to carry out, the person said.

Lynas had planned to process ore from its Mount Weld mine in Western Australia from September. The International Trade and Industry Ministry will hold a briefing on the matter in Kuala Lumpur today, according to a media invitation. Rebecca Fatima Sta Maria, the ministry?s secretary-general, declined to comment when contacted by Bloomberg News late yesterday.

Local residents and non-governmental organizations have lobbied to stop Lynas from operating the plant over radiation fears. Risks arising from the project outweigh economic gains, Fuziah Salleh, a local member of parliament, said on April 22.

The Southeast Asian nation?s government asked the IAEA to appoint an independent international panel to look into public concerns before allowing the miner to import minerals.

Lynas wants to tap growing global demand for its minerals that are used in Apple Inc.?s iPod music players, flat-screen televisions and hybrid cars. Liz Whiteway, a Lynas spokesperson, declined to comment when contacted by phone yesterday.

The company said its refinery is safe and presents no hazard to the public and its workers in a statement on April 22.

Protests over the past three months, including a march on Parliament and the Australian High Commission in Kuala Lumpur, took place following leakages at Japan?s nuclear power plants after the March 11 earthquake and tsunami.