Malaysia plans June meetings with Australian officials over Lynas waste

01 Jun 2019 / 09:05 H.

KUALA LUMPUR: The Ministry of Energy, Science, Technology, Environment and Climate Change (Mestecc) is seeking meetings with Australian officials in June to discuss ways to manage the radioactive waste from Lynas Corp’s rare earth processing plant in Malaysia, a ministry spokeswoman said.

“The discussions will be about the removal of the radioactive waste from Malaysia. The conditions (for Lynas) are intact,“ she told Reuters, referring to the conditions the ministry set in December for Lynas to remove its waste stockpiles before its operating licence can be renewed.

Prime Minister Tun Dr Mahathir Mohamad said on Thursday that the rare earths miner will be allowed to continue operating its US$800 million (RM3.4 billion) processing plant, ending months of uncertainty over the future of the Australian-based company’s business.

Lynas’ shares jumped as much as 15% after Mahathir’s comments.

Lynas is the only major rare earth producer outside China and its status drew closer attention this week after major Chinese newspapers reported Beijing was ready to use rare earths to strike back in its trade war with the United States.

Rare earths are used in batteries, computers, televisions and many other products. — Reuters

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