LYC 2.56% $6.10 lynas rare earths limited

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    KUANTAN: Beserah assemblyman Andansura Rabu welcomes the decision by the High Court to grant Lynas Malaysia Sdn Bhd (Lynas Malaysia) to initiate its two judicial review proceedings against the government today.Two separate High Courts today allowed the Australian rare-earths producer company's application to challenge the government's directive that prohibits the import and processing of lanthanide concentrate after Jan 1 next year.Andansura described the judgment meted out by the High Court as fair to the investors who had forked out money to invest in the country."We welcome the court ruling… just like I mentioned previously in the (Pahang) state assembly that we have to be fair to the investors who come here. We must not damage our reputation in a bid to attract investors.ADVERTISINGMORE NEWSHigh Court rules conversion of 3 children to Islam validZuraida appeals High Court decision, challenges RM10mil payment to PKRHigh Court upholds magistrate's decision to deny MACC bid to remand senior copBaru Bian: High Court's decision on 'Allah' covers all states"The conditions imposed against the company (Lynas Malaysia) seem to be putting them under pressure. Lynas Malaysia operations have not affected the people living here," he said in a statement.Meanwhile, Pahang Investment, Industries, Science, Technology and Innovation Committee chairman Datuk Mohamad Nizar Najib has not responded for comments.In March, Andansura, who is the Pahang Pas deputy commissioner, in a statement said the refinery was safe based on the facts that he had reviewed. Lynas Malaysia is located within the Beserah state constituency.On Feb 16, Lynas filed an appeal to drop certain conditions of its operating licence, and the Science, Technology and Innovation Ministry (MOSTI) had said on Feb 24 that it was considering the appeal.However, the ministry, on May 8 rejected the appeal under the Atomic Energy Licensing Act 1984 and said Lynas would no longer be allowed to import raw materials containing natural radioactive materials into Malaysia starting Jan 1 next year.
 
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