Lynas up as concentrate arrives at plant
Lynas up as concentrate arrives at plant

Shares in Lynas Corporation jumped after the company advised that rare earths concentrate had arrived for processing at its new plant in Malaysia.

The company said about 100 containers of rare earths concentrate had now arrived in Kuantan and a significant number of those were already at its plant.

"Lynas expects that first feed to kiln and commencement of operations at the LAMP will occur over the coming days," the company said in a statement.

Lynas insists there is nothing preventing it from beginning operations at its plant despite it last week revealing a second round of legal action against it.

The "Save Malaysia, Stop Lynas" group last week lodged a second application with the Kuantan High Court to stop the company securing a temporary operating licence for the facility.

Lynas said at the time the application appeared to be a repeat of an application that was dismissed earlier this month.

"The recent legal proceedings in the Kuantan High Court have not detracted from the ongoing operational preparation of the LAMP for production," Lynas said last week.

"Lynas is committed to its objective of successfully transitioning to a rare earths producer and trusted supplier, with first feed to kiln expected by calendar year end, followed by a ramp-up period of 3-4 months until first commercial sale of REO product and subsequent cash generation."

The "Save Malaysia, Stop Lynas" group fears Lynas' plant will emit radioactive pollution posing a threat to human health and the environment.

Lynas shares were up 5.5 cents, or 8.73 per cent, to 68.5 cents at 11.40am.

The West Australian

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