clarification of malaysian media reports

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MEDIA RELEASE
11 December 2012

Clarification of Malaysian media reports
Lynas Corporation Limited (“Lynas”) (ASX:LYC, OTC:LYSDY) notes the recent comments in the Malaysian media with respect to the Temporary Operating License (TOL) for the Lynas Advanced Materials Plant (LAMP).
Lynas confirms that the TOL remains issued and valid and there is no legal impediment to Lynas carrying out its operations at the LAMP.
The TOL has two key conditions with respect to the solid residues from the LAMP. The key obligations of Lynas are – a) to undertake R&D on the commercialization, recycling and re-use of residue materials subject to a condition that the material re-used must be below 1 Bq/g and b) to submit the plans and location of a Permanent Disposal Facility. These conditions are to be satisfied within 10 months of the issuance of the TOL in Sepember 2012. Lynas is confident of satisfying these conditions. Lynas is conducting detailed commercialization activity with respect to the residue to safely commercialize that material and to deal with it in accordance with the TOL. Lynas has constructed a plant at the LAMP which is now ready to convert the WLP residue into co-products for market trials.
In addition, as noted in Lynas’ ASX announcements dated 28 August 2012 and 5 September 2012, and in accordance with the undertakings given to the AELB at the time of receipt of the TOL, Lynas will ensure that all residue material that is the source of concern to the Malaysian public will be converted into co-products, and exported from Malaysia if the co-products are not approved for use in Malaysia and an acceptable location for the Permanent Disposal Facility is not approved. The co-products must be in a form acceptable for international markets and in accordance with all Malaysian regulations and international conventions.
Lynas is fully commited to safety, environmental excellence and the creation of sustainable value for its communities through its operations.
Lynas will host an investor conference call to discuss the above at 4.45pm AEDT time.
Dial-in details are:
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Confirmation Code 7339513
Participant Dial-in (Local): + 61 2 8113 1400
Participant Dial-in (Australia): 1800 554 798
Dial in Numbers (Int’l) See below for specific International Toll Free Country access.
Location Number Location Number Location Number
Belgium* 0800 110 80 Italy* 800 870 984 South Africa 0800 980
395
Canada 1800 332
0991 Japan 0120 03
8800 Sweden* 0207 970 75
China 4001 935 569 Malaysia 1800 812
876 Switzerland* 0800 567
893
France 0800 917 625 Netherlands 0800 0227
213 Taiwan 00801 851
601
Germany* 0800 182
5453
New
Zealand
0800 450
585 Thailand 001800 613
60987
Hong Kong 800 901 587 Philippines* 1800 1110
0767 UK 0808 234
8407
India 000 800 100
6486 Singapore 800 6163
105 USA 1866 839
8029
Indonesia 00180 3061
31022
South
Korea
00798 613
60978
*Access restrictions may apply. Please contact Client Support for further information.
For further information please contact Alistair Reid on +61 2 8259 7100 or visit
www.lynascorp.com
For all media enquiries please contact Alan Jury from FTI Consulting on +61 2 8298 6100.