Here you go - the game’s over Lynas' critic Malaysian MP Fuziah...

Here you go - the game’s over


Lynas' critic Malaysian MP Fuziah Salleh offers olive branch on government probe

• Oct 7 2018 at 3:43 PM
• Updated Oct 7 2018 at 4:26 PM

https://www.copyright link/content/dam/images/h/1/5/u/e/v/image.related.afrArticleLead.620x350.h16bna.png/1538890206637.jpg
Malaysian MP Fuziah Salleh says her review will take into account the views of Lynas and its staff. Fuziah binti Salleh/Facebook
Lynas staff and suppliers held a rally in Malaysia on Saturday to show their support for the miner's operations there, as investors seized on hopes a government probe into Lynas' Malaysia refinery could take a more conciliatory approach.

Lynas shares had lost more than 23 per cent since late September after it emerged that junior Malaysian government and long-time Lynas critic Fuziah Salleh would lead a review of the refinery, which turns rare earths mined in Western Australia into higher value products such as neodymium and praseodymium.

Ms Salleh has long held concerns about the environmental impact of the plant.

But in comments that sent Lynas share soaring almost 10 per cent late on Friday, Ms Salleh told Malaysian newspaper The Star that the committee running the inquiry would listen to the company's concerns.

"The committee acknowledges the fact that Lynas and its employees are an important stakeholder to be considered by the committee, as well as recognises the fact that there are other important stakeholders to be considered and for their views to be equally considered," she said in a statement to the paper.

"Thus the review process by the committee shall be open and transparent to the various important stakeholders as we are here representing the present government which believes in transparency, and we are here to ensure that the policies of the present government on sustainable development are being adhered to," she said.

Lynas shares closed at $1.78 on Friday, well off their recent low of $1.60. However, the stock had traded at $2.10 before news of the probe broke, and did reach $2.96 in May, before the government of Mahathir Mohamad scored a shock victory in the country's general election.

A Lynas spokesperson said the company "continues to advocate for a fair, objective and scientific review process, with the full support of our staff, suppliers and local communities".

The rally on Saturday, held at Balok Beach in Kuantan not far from the Lynas plant, included Lynas staff, suppliers and local community members.

Despite Ms Salleh's apparently conciliatory tone, she did emphasise that the government was committed to "principles of sustainability and sustainable development".

"In short, it will be an environmentally friendly government," she said.

Last week Lynas chief executive Amanda Lacaze had published an open letter to the government, calling for a transparent review process.

"The Malaysian government and the people of Malaysia expect high standards of fairness and openness in all aspects of public life, as seen in other recent initiatives of the new government."