Lynas Corp. Ltd. (LYSCF)

[Pro-Life]

Lynas expansion iced by Malaysian regulators
Michael McCrae Monday December 16, 2019 17:07

Rare earth miner and processor, Lynas, said today it was unsuccessful in obtaining Malaysian regulatory approval for an increase in the lanthanide concentrate processing limit for Calendar Year 2019 (CY19).

The company said it intends to reapply.

"The regulator has provided Lynas with a list of additional reports and management plans that the regulator now requires in order to reconsider the application. The processing limit resets on 1 January each year, and Lynas intends to reapply for an increase for CY20," wrote the company in a news release.

On Friday Lynas said it intends to submit a tender to build a rare earth separation plant in the United States after the U.S. Department of Defense called for proposals to help it secure a domestic supply of strategic metals.

Lynas is the world's only rare earth processor outside of China.

PDF of Latest News Release is here.