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Malaysia renews Lynas Rare Earths’ license for 10 years, orders end to radioactive waste by 2031
The 10-year licence renewal follows regulatory hurdles including a reversed import ban and supports efforts to reduce reliance on China for rare earths, with shares rising 4.6%.
- On Monday, Lynas said it received a letter confirming its operating licence was renewed and now runs until March 3, 2036, from its previous expiry on Tuesday.
- Regulators previously imposed an import ban that hamstrung the refinery, and that ban was sensationally overturned in October, coinciding with more work awarded to a contractor linked to a Malaysian prince and politician's family.
- Science Minister Chang Lih Kang said the renewal requires radioactive waste to be treated and neutralized by extracting thorium within five years, with no new permanent disposal facility allowed and licence revocation if conditions breach.
- Investors breathed a collective sigh of relief after the renewal, and Amanda Lacaze, CEO and Managing Director, said Lynas welcomes the longer licence term which provides greater investment certainty for Lynas and for our rare earths supply chain partners and customers.
- The renewal secures Malaysia's role as the largest rare-earth refinery outside China, supporting Lynas's role in non-China supply of nearly a third of demand amid a Trump-led push; its stock rose about 190 per cent over the past year.
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Associated Press News+13 Reposted by 13 other sources
Malaysia renews Lynas Rare Earths' license for 10 years, orders end to radioactive waste by 2031
Malaysia has renewed Australian miner Lynas Rare Earths’ license for 10 years, but ordered it to stop producing radioactive waste by 2031.
·United States
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Lynas licence renewed with strict safety conditions - Minister - New Straits Times Online
KUALA LUMPUR: The government has renewed Lynas Malaysia Sdn Bhd’s operating licence with strict safety conditions to ensure radioactive waste is properly managed, Science, Technology and Innovation Minister Datuk Chang Lih Kang said today.
·Malaysia
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Coverage Details
Total News Sources24
Leaning Left5Leaning Right4Center7Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 31%
C 44%
R 25%
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