Shares in Lynas Corporation surged before the close after the company announced a court in Malaysia had rejected an injunction against the operating licence for its rare earths plant in the country.
The injunction was sought by the Save Malaysia Stop Lynas group, which fears Lynas' plant will produce radioactive pollution that will seep into ground and water.
The decision means there is no injunction or stay preventing Lynas from carrying on operations at its Malaysian plant.
Lynas is still waiting on a judicial review of the decision by the Malaysian Minister for Science, Technology and Innovation to dismiss an appeal against the Atomic Energy Licensing Board's decision to approve a temporary operating licence for the plant.
Lynas said the hearing of the judicial review application was expected in a few months time.Shares in Lynas were up 8.5 cents, or 11.81 per cent, to 80.5 cents after emerging from a trading halt shortly before the close of trade.
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