LYC 0.77% $6.56 lynas rare earths limited

is lynas capable of residue disposal?

  1. 912 Posts.
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    Lynas keeps saying that it will convert any residue into a commercially viable product. According to Ministers even this material cannot be sold into Malaysia. Do we know of any country willing to purchase this material? Is this going to be a sticking point?


    Lynas must remove all residue from Malaysia, say 4 cabinet ministers


    KUALA LUMPUR: Lynas has been called to comply with the condition upon which it had been issued a Temporary Operating License (TOL), which is to remove from Malaysia all the residue generated by the Lynas Advanced Materials Plant (LAMP), including all products made from the residue.

    The TOL was granted to the company with this specific condition, said cabinet four ministers directly responsible for the portfolio related to the Lynas project in a joint ministerial statement here on Monday.

    The joint statement was made by Minister of International Trade and Industry Datuk Seri Mustapa Mohamed, Minister of Science, Technology and Innovation Datuk Seri Panglima Dr Maximus Ongkili, Minister of Natural Resources and Environment Datuk Seri Douglas Unggah Embas and Health Minister Datuk Seri Liow Tiong Lai.

    The Cabinet had also endorsed this condition, they said.

    The statement was issued in response to recent “inaccurate” media reports regarding the removal of the residue generated by LAMP.

    "The obligation imposed on Lynas in this matter is very clear. The Government will not compromise the health and safety of the rakyat and the environment in dealing with the issue of Lynas."

    They also reiterated that if Lynas failed to comply with the condition, the Atomic Energy Licensing Board (AELB) had the power under section 22 of the Atomic Energy Licensing Act 1984 (Act 304) to suspend or revoke the TOL and order Lynas to immediately cease operation.

    "As ministers responsible for portfolios directly associated with the Lynas project, we reiterate that public health and safety continue to be our utmost priority." - Bernama

 
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