Kuala Lumpur, (2012) Dec 18: Former Prime Minister Tun Dr Mahathir Mohamed has agreed with the government decision to continue with the Lynas rare earth processing plant in Gebeng, Kuantan and disagreed with protesters that the plant was dangerous.
Condemning the action of protesters over the heavily politicised rare earth plant in Kuantan, he said the nation needed to accept that it was unharmful, and important for the country to reap the benefits from the existence of rare earth in the country.
“I think we need to stick to the fact that it is true that there are nuclear materials that are very dangerous and need to be handled carefully and with responsibility.
“Rare earth is not dangerous like nuclear…rare earth is not yet known to cause diseases among users of its end product,” he said in his speech at the Chemical Industries Council of Malaysia (CICM) Responsible Care Awards 2011/2012 dinner, last night.
He said rare earth, used as a component for batteries and magnets, was a very important material for the electronic industry.
He said that the process undertaken at the Lynas plant was not a dangerous process and its safety had been assured by the world’s best expert and certified by the International Atomic Energy Agency (IAEA).
And of course Dr Mahathir has been proven right again, you really think Chef Wani's stir fry is going to change the opinion of an educated man after 6 yrs of vindication in operation?
Re "massive" see ARU's latest presentation, while the step change in Chinese policy is significant in itself, a 40% uplift in a metric that has been static since inception, designed as a means of containment is massive in itself. Don't you have anything else to worry about?
BTW, you can also see ARU have sussed part of Lynas mktg strategy, was only a matter of time, but perhaps another indicator towards shoring up the fort.
LYC Price at posting:
$2.31 Sentiment: Buy Disclosure: Held
(20min delay)