*DJ Lynas Corp Hasn't Been Granted License To Import Rare Earth...

*DJ Lynas Corp Hasn't Been Granted License To Import Rare Earth Ores Into Malaysia
-Govt

(MORE TO FOLLOW) Dow Jones Newswires
October 18, 2011 23:56 ET (03:56 GMT)
DJ Lynas Corp Hasn't Been Granted License To Import Rare Earth Ores Into Malaysia
-Govt

KUALA LUMPUR (Dow Jones)--Australia's Lynas Corp. Ltd. (LYC.AU) hasn't bee
granted a license to import rare earth ores into Malaysia, the Malaysian government said
Wednesday.
"Lynas was neither issued an [Atomic Energy Licensing Board] Class E license nor
does it qualify yet for a permit to import rare earth ores into Malaysia,"
Malaysia's Ministries of International Trade & Industry and Science, Technology
& Innovation said in a joint statement.
Lynas hopes to produce an initial 11,000 metric tons of rare earths from the Mt. Weld
development in Australia and set up a processing facility in the Malaysian city of
Kuantan, with production scheduled to start later this year and ramp up to double its
initial capacity by the end of next year.
Many residents in the area have raised concerns that the facility could cause
environmental damage.

-By Ankur Relia; Dow Jones Newswires; 603-2026-1233; [email protected]

(END) Dow Jones Newswires
October 19, 2011 00:08 ET (04:08 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.

Wednesday 19 October 2011 15:08:00.000 AEST