The West

Lynas gets all-clear for Malaysian plant
Lynas gets all-clear for Malaysian plant

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.

The West Australian

Latest News From The West

Indian entrepreneurs Pankaj and Radhika Oswal flew out of the country the day they settled their court case last week, claiming that they felt “victorious”, while accusing Australia of exploiting …

WA has its sights set on winning a share of $5 billion in defence contracts to build parts of next-generation armoured vehicles amid a wider effort to establish Perth as a defence manufacturing hub …

Popular videos

Our Picks

Follow Us

More from The West