LYC 1.32% $5.98 lynas rare earths limited

nyt on new lamp delay

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    An engineer with a detailed knowledge of the project said Wednesday that another delay had come up in recent days. Complex electronic components that require a long time to manufacture were ordered late and will not be ready for the first phase of the refinery’s construction until November, said the engineer, who insisted on anonymity to avoid retaliation by Lynas in the close-knit mineral processing industry.

    Parts of the refinery can be commissioned without the components, including kilns for drying ore, but other sections of the production process require the components, the engineer said.

    Lynas denied that it was facing further construction delays, saying in a statement that any parts arriving late this year would be for either a spare parts inventory or a planned second phase that would double the capacity of the refinery. “Attempts to characterize it otherwise are either misinformed or a deliberate distortion,” the company said.

    The engineer disagreed, insisting that the parts were needed for the first phase.

    Source: http://www.nytimes.com/2012/03/22/business/global/political-and-construction-holdups-for-malaysia-rare-earths-plant.html?ref=global-home

    Even though the article stated that Lynas denied the allegations I hope there'll be a more trustworthy answer straight by Lynas HP. I would like to write how I am feeling right now but then my post will definetaly be erased.
 
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