LYC

1.60%

$6.15 lynas rare earths limited

Intrigued by the ambassador's lobbying and would have loved...

First 22 Last

Share
Profile

Follow
Stoof

1,128 Posts.

186

12/02/23

10:23

Post #: 66200569
Share

Originally posted by RVR: ↑

Malaysiakini today:
Govt expected to renew Lynas’ licence with Harapan-era conditions
Low Choon Chyuan Published: Feb 11
The government is expected to renew the licence for Lynas to continue operating its processing plant in Gebeng, Kuantan. The license is set to expire on March 2. However, sources familiar with the matter told Malaysiakini it is likely that the firm must abide by the two key conditions set by the Pakatan Harapan government in 2019.
One of the conditions is to relocate the “cracking and leaching” facility, which produces radioactive Water Leach Purification (WLP) residue, out of Malaysia before July 2023. Since it was set up in 2012, Harapan leaders had objected to the plant but former premier Dr Mahathir Mohamad’s administration renewed the licence with conditions after the coalition won the 2018 general election.
This put Harapan parties, especially DAP, in an awkward position as it previously demanded the BN government to shut down the rare earth processing plant. For example, former environment minister Yeo Bee Yin, who is a DAP lawmaker, expressed disappointment over the matter in her book ‘The Unfinished Business’. She dedicated an entire chapter to how she was forced to amend the licence condition from “moving out the radioactive waste” to “constructing a ‘cracking and leaching’ facility elsewhere”.

The licence for Lynas has become a hot potato subject for Harapan and the new Science, Technology and Innovation Minister Chang Lih Kang from PKR when the coalition returned to power after forming an alliance with BN last November.

US wants Lynas to keep operating Sources claimed that the minister, who is a PKR vice-president, and the cabinet are caught between a rock and a hard place, having to manage between pressure from foreign powers and the expectations within PKR as well as from voters.

One source close to the government told Malaysiakini that the United States, Australian, and Japanese governments are “concerned” about whether the licence would be renewed. A month after Chang became minister, US ambassador to Malaysia Brian D McFeeters visited the ministry and had a meeting with the latter.
Two sources confirmed that McFeeters lobbied the government to renew Lynas’ license.

Expand

Intrigued by the ambassador's lobbying and would have loved being a fly on the wall, so to speak. A bit of carrot and stick I would think. It's likely the US would ask them to extend the operation "as is", at least for the medium term, so that Lynas will have KAL operational and possibly wait till the DOD has Texas up and running. The Texas plant will be an important cog for the ROW's non-nuclear defence capability.

LYC Price at posting: $8.78 Sentiment: Buy Disclosure: Held
12 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 90 more messages in this thread...

First 22 Last

Add LYC (ASX) to my watchlist

(20min delay)
Last $6.15		Change -0.100(1.60%)		Mkt cap ! $5.748B

Open	High	Low	Value	Volume
$6.23	$6.24	$6.13	$18.60M	3.011M

Buyers (Bids)

No.	Vol.	Price($)
5	21239	$6.15

Sellers (Offers)

Price($)	Vol.	No.
$6.16	9771	1

View Market Depth

No.	Vol.	Price($)
5	21239	6.150
3	16649	6.140
4	35997	6.130
5	13743	6.120
3	21298	6.110

Price($)	Vol.	No.
6.170	8000	1
6.180	57	1
6.190	4200	2
6.200	20580	8
6.210	15453	2

Last trade - 16.10pm 14/06/2024 (20 minute delay)


Last $6.16		Change -0.100 ( 1.94 %)
Open	High	Low	Volume
$6.24	$6.24	$6.13	894887
Last updated 15.59pm 14/06/2024 ?

LYC (ASX) Chart

Intrigued by the ambassador's lobbying and would have loved...

Featured News

Dominos looks tasty and tempting, but could be too spicy and even dicey

Pearl Gull Iron snaffles REE project in Chile, noting geological echoes of China

ASX Market Close: Consumer Discretionary rises ahead of interest rates decision | June 14, 2024

Lightning spots additional pegmatites during first Brazilian visit

ASX Market Close: Unemployment dips as index climbs | 13 June, 2024

Week 24 Wrap: US contagion sentiment not so contagious; iron ore remains pressured

Maiden production at Alta Mesa puts Boss on the charge for 3Mlbs target

Whitebark launches $1.5M capital raise to progress QLD geothermal assets

Triangle gets approval for Perth Basin carbon sequestration project

Telix dips as pharma giant abandons US IPO for NASDAQ listing – despite record run

Buyers (Bids)

Sellers (Offers)

Featured News

Intrigued by the ambassador's lobbying and would have loved...

Featured News

Top Stories

Dominos looks tasty and tempting, but could be too spicy and even dicey

Pearl Gull Iron snaffles REE project in Chile, noting geological echoes of China

ASX Market Close: Consumer Discretionary rises ahead of interest rates decision | June 14, 2024

Lightning spots additional pegmatites during first Brazilian visit

ASX Market Close: Unemployment dips as index climbs | 13 June, 2024

Week 24 Wrap: US contagion sentiment not so contagious; iron ore remains pressured

Maiden production at Alta Mesa puts Boss on the charge for 3Mlbs target

Whitebark launches $1.5M capital raise to progress QLD geothermal assets

Triangle gets approval for Perth Basin carbon sequestration project

Telix dips as pharma giant abandons US IPO for NASDAQ listing – despite record run

Buyers (Bids)

Sellers (Offers)

Featured News