LYC 0.45% $6.77 lynas rare earths limited

nyt write up , page-2

  1. 919 Posts.
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    Nice pick-up. The article mentions that the following;

    Raja Dato Abdul Aziz bin Raja Adnan, the director general of the Malaysian Atomic Energy Licensing Board, said the board had asked the Lynas Corporation of Australia, which is building the refinery, to provide additional documentation before accepting its application for an initial operating permit. It will take up to six months to review the application, Raja Adnan said, and Lynas will not be allowed to bring any raw material to the plant until a permit is issued.

    This could delay the LAMP by a few months and possibly into next year. Nic Curtis is insistent that come September Lynas will start processing, but without a mining permit this will not happen. Not sure who to believe as to whether it will only take a month to review or much longer.
 
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