Four arrested after protest and it was the first arrest since a series of anti-rare earth protests were held here.
Okay, we know that the project is safe and the by product waste is virtually non-radioactive. BUT LETS PUT THE SCIENCE ASIDE.
Malaysia had a rare earth plant years before build by Mitsubishi and it has cause several health concerns. Until now people still bitterly remember that event.
"Fool me once, shame one me; Fool me twice, shame on you."
No matter how much scientific evidences you throw at them, they would not listen anymore.
To make matter worse, the general election is coming up. Opposition will exploit the Lynas Protest as one of their key agenda. Note that the National Party has been a dominant party since forever. They will do anything to keep their majority power.
They WOULD consider scrapping Lynas if it help them at all at the polls.
The risk of losing their political monopoly outweights the risk of losing millions of dollar in business ventures.
PS: I am both a Malaysian and Lynas Shareholder. I really really want Lynas to commence operations but the outlook is not that great at the moment.
LYC Price at posting:
$2.11 Sentiment: None Disclosure: Held
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