LYC 0.39% $7.75 lynas rare earths limited

In a press release, Minister of Science, Technology and...

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    In a press release, Minister of Science, Technology and Innovation Datuk Seri Dr Maximus Ongkili said one of the new conditions was that Lynas must submit a plan to immobilise radioactive elements in the residue that is to be disposed.

    “Lynas must submit to the board a method to immobilise radioactive elements in the residue to be disposed in the event excessive residue is stored in the Residue Storage Facility (RSF). The method is to trap radioactive elements from being released into the environment,” the statement read.

    The immobilisation method will be approved by AESB and would be made part of the licence conditions, the statement added.

    The other condition is that Lynas must submit an “Emergency Response Plan” to control release of dust from the residue into the environment.

    “The Emergency Response Plan is necessary in the event the water sprinkler system fails and it should include a contingency measure to provide an alternative water source on standby at all times.”
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    The new conditions don't seem very onerous. In fact they really only amount to contigency plans. I would imagine Lynas already had such mechanisms in place. I doubt this will amount to significant delay.

    As for the AELB - they granted the TOL and were going to issue it until the anti-Lynas movement intervened. This was back in Feb. The AELB want to issue this as much as we do.

    With all these conditions this will be the safest and most advanced chemical plant in the world - held to a higher standard than most *actual* nuclear reactors.

    DYOR. Just my $0.02
 
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