Nervous investors ditch Lynas ahead of move to Malaysia July 3, 2014 The Age, Brian Robins Troubled rare-earth miner Lynas Corp is to shift its head office abroad as part of a renewed cost-cutting regime as the company seeks to stop haemorrhaging cash.
It also comes amid production difficulties at its recently commissioned Malaysian processing unit that have yet to be resolved, and as negotiations continue to refinance a key funding package.
Lynas said it would move its head office to Kuala Lumpur, from Sydney, which will result in an unspecified number of job losses, with further jobs to go at its Perth office…….Investors were unnerved by the latest news, pushing Lynas shares down 7 per cent to close at 13¢.
Lynas is not the only rare earths producer encountering ongoing problems in lifting output, with US group Molycorp also struggling to bed down a capacity expansion.
Equally important to Lynas Corp’s near-term progress is resolving negotiations to refinance a $US325 million loan, via Nomura.
There has been ”no material development” with this refinancing, a Lynas spokesman said.
To help shore up its balance sheet, Lynas recently raised $40 million from shareholders as well as replacing its chief executive. http://www.smh.com.au/business/nervous-investors-ditch-lynas-ahead-of-move-to-malaysia-20140702-3b8so.html#ixzz36Xf4ozEk
Aust activist freed from Malaysia cell http://www.heraldsun.com.au/news/breaking-news/aust-activist-freed-from-malaysia-cell/story-fni0xqll-1226970174011l AAP JUNE 28, 2014 SYDNEY woman Natalie Lowrey has been released after being detained for six days in Malaysia, where she was protesting against an Australian company’s metals plant.
MS Lowrey was arrested on Sunday while demonstrating at Lynas’ controversial plant for rare earths, which are used in tech products like smartphones.
Police were weighing a charge of unlawful assembly, which carries a maximum two-year jail term.
But on Friday night, as the New Zealander was preparing to spend a weekend behind bars with no visitors, she was suddenly released on bail.”It was a big surprise, I didn’t believe it until I had changed out of my purple jail uniform,” she told AAP.
“I felt very strong the whole week because I knew there were vigils all over Australia and Malaysia for me. I have a lot of people to thank.”
Lowrey was released along with 15 Malaysians who had also been arrested.
The lack of transparency around Ms Lowrey’s detention concerned lawyers and NGOs, who collected more than 15,000 signatures on a petition to free her.
She has her passport back and plans to leave Malaysia next week.
there was little mention of the waste — or “residue”, as Lynas prefers to call it.
Lynas and its supporters assert its operations are completely safe, but as NM reported on Monday, others — including scientists — are less confident.
The IAEA also recommended that Lynas proceed no further until it had filed comprehensive plans for the permanent disposal of waste, decommissioning of the plant and remediation of the site at the end of its life.
Lynas’ waste plans a toxic pipe dream Aliran, 19 December 2012 Scientists and community leaders are concerned about radioactive waste from Lynas’ Malaysian plant but the company representative who took Wendy Bacon’s questions brushed off the criticism. This is the second of two articles about Lynas by Wendy Bacon. Read the first here.http://aliran.com/11005.html Australian rare earth company Lynas has always known it had a waste problem.
It plans to process rare earth concentrate, imported from its mine at Mount Weld in Western Australia, at its Lynas Advanced Materials Plant (Lamp) in Malaysia. It will not only produce rare earths for export but also a huge amount of waste, including more than a million cubic metres of low level radioactive material.
Lynas was originally going to build its Lamp plant in China, which produces more than 90 per cent of global rare earths. But according to its 2007 annual report, it decided to move to Malaysia, because the Chinese government was increasing its control over production, including applying environmental standards more strictly. Continue reading
Lynas will be in court in Malaysia on 19 December. The Save Malaysia Stop Lynas (SMSL) campaigners will be appealing against the Kuantan High Court decision to lift its stay on the company being able to exercise its rights to proceed under the temporary licence.
The toxic waste that’s not in Australia’s backyard http://aliran.com/11005.html 18 Dec 12, Australian-owned company Lynas is quietly shipping rare earth to a processing plant in Malaysia – without a firm plan in place to dispose of dangerous radioactive waste. Wendy Bacon reports.
This is exactly how residents of Kuantan on Malaysia’s east coast reacted when the Australian company Lynas announced plans to build Lamp, the world’s biggest rare earth processing plant in their area.
Several years later, they have no clear answer. Indeed last week, while the plant that will use concentrate imported from Lynas’s rare earth mine at Mount Weld in Western Australia was finally ramping up for production, the Malaysian government and the company were in direct conflict about what would happen to the waste. Continue reading
Why should we allow anything less in terms of safety standards than Australia? Does the BN government feel that the Australian Government is being too fussy? Or that Malaysians can take more radiation than the Australians?
The Anti-Lynas movement: Are we being unreasonable? – Jeyakumar Devaraj, The Malaysian Insider , 13 Dec 12 Dr Jeyakumar Devaraj is a PSM central committee member and MP for Sungai Siput.“……..Vastly Differing Standards First, a brief overview of the industrial process of separating the rare earths from the rest of the ore.
Lynas actually has the license to operate a refining plant in Australia itself. Lynas acquired this license upon buying over Aston, the company that owned the mine in Mount Weld. In the mid 1990s, Ashton applied for a license to refine the ore, and in the process of consultations with the public in the region, agreed to a set of specific performances. If Lynas wants to use the refining license that came with the purchase of Ashton, it is committed to observing all the procedures agreed to by Ashton earlier.The table below compares requirements that Lynas would have to observe in Australia with the requirements for it in Malaysia.
The government has said in Parliament that Lynas is keen on operating a plant here because the total cost in Malaysia is only 30 per cent of the cost of refining the ore in Australia! (Despite the fact that it has to be transported from Mount Weld to Freemantle Port, loaded on ships and then brought some 4000 km to Kuantan for refining!) That means safety precautions in Malaysia are so much more lax than those required in Australia.
This point alone makes me uncomfortable. Continue reading
However the Temporary Operating License approved on 7/2/2012 allows Lynas to start operations even before they present their proposed plan for comprehensive management of the solid waste – the TOL only requires them to submit the waste management plan within 10 months of starting operations!!
Ten months have passed, and a safe permanent depository has yet to be identified and agreed upon by all parties. Instead Lynas is still talking of rendering the waste “safe”. Continue reading
Australian rare earths company Lynas may lose its Malaysian operating license over the radioactive waste issue
Four Malaysian cabinet MPs (responsible for trade, science, natural resources and health) have now released a joint statement, saying the temporary licence granted to Lynas requires it to remove “all the residue” from the plant out of the country.
They also warned that if Lynas does not comply, the Government can suspend or revoke the licence and order it “to immediately cease operation”.
Malaysia orders Lynas to ship out waste http://www.abc.net.au/news/2012-12-11/an-malaysia-orders-lynas-to-ship-out-waste/4422084 Dec 11, 2012 . Australian mining company Lynas and its plans to process rare earths in Pahang state have caused local communities and environmental groups to raise concerns over the management of radioactive byproduct waste
Malaysia has ordered the Australian miner Lynas Corp. to ship out all the waste from its new rare earths plant, because of environmental and health concerns. Continue reading
Hello, didn’t Lynas say wastes to be exported? Malaysiakini Dec 10, 2012
‘Now is the time to ask the court to suspend the TOL because AELB has said that they will enforce Lynas pledge to export the waste.’
Wastes won’t be exported out of Malaysia, says Lynas
Odin: Lynas Malaysia managing director Mashal Ahmad, you have been reported to have said no residues from your plant would be exported out of Malaysia, as your company needed to abide by international conventions that prohibit the export of hazardous wastes to other countries.
This means that the residues which your plant will produce are toxic. All this while, however, we have been told that the residues would be safe to humans and the environment.
Does this not mean that your company, and those outside it but who support your operations, have been lying? Continue reading
Hello, didn’t Lynas say wastes to be exported? Malaysiakini Dec 10, 2012 Xabiso: Do the people know about the 12-year tax free incentive gifted to this foreign company listed in Australia? Why am I not surprise that they are keeping the toxic waste in Lynas?
I remember someone giving an assurance last time that the waste will be exported back to Australia. We are talking about the toxic waste from processing rare earth, not the raw material (if the raw material is radioactive, Australian can’t even send it to Malaysia).
Before plant operation – apa pun boleh (everything can be done). After start-up – dah tunjuk belang (show true colours). http://www.malaysiakini.com/news/216281
Hello, didn’t Lynas say wastes to be exported? Malaysiakini Dec 10, 2012 Blogsmith: Now is the time to ask the court to suspend the temporary operating licence because AELB DG has said that they will enforce Lynas’ pledge to export the waste.
From this Malaysiakini report: Atomic Energy Licensing Board (AELB) director-general Raja Abdul Aziz Raja Adnan has clarified that the regulatory body will enforce Lynas’ pledge to export all its waste in the form of commercial products overseas.
“The management and removal of residue is an integral part of the Temporary Operating Licence (TOL) conditions and agreements and is permanently documented in the licence document issued to Lynas on Sept 5, 2012.
“Issue of removal of residue being non-binding for Lynas, does not arise. It is legally binding and AELB will enforce it.” http://www.malaysiakini.com/news/216281
Hello, didn’t Lynas say wastes to be exported? Malaysiakini Dec 10, 2012 Kgen: What cheaper production cost? What about the cost of transporting the earth from Australia to Malaysia? Most of the processes are automated so labour cost does not factor significantly in the production cost.
Does the 12-year tax holiday, lax environmental standards and an authoritarian regime which can impose its will on the people have anything to do with the choice of location?http://www.malaysiakini.com/news/216281
Hello, didn’t Lynas say wastes to be exported? Malaysiakini Dec 10, 2012 Not Confused: So, the waste from the Lynas plant cannot be exported from Malaysia because it is hazardous, as defined under the international convention.
I had refrained from commenting on this issue as I felt that too many professionals, supposedly with some integrity, had reported and clearly stated that there was no risk to any Malaysians from the operation of the plant.
However, it is now confirmed that the waste from the plant will indeed be toxic so will have to be “disposed of” in Malaysia.
This seems like Malaysia is being used as a dumping ground simply because operating costs here are less and we have a corrupt government which is presumably being paid handsomely for licensing their operations. http://www.malaysiakini.com/news/216281
Hello, didn’t Lynas say wastes to be exported? Malaysiakini Dec 10, 2012 Swipenter: Spending another RM2 million to install two units of radioactive detecting machinery is “unnecessary” expenditure. That is one callous and contemptous attitude towards the safety of Malaysians.
An Old Malaysian: The raw materials imported are not a danger to us due to the very low concentration of the radioactive elements.
However, if the raw materials are processed and the waste radioactive elements are being concentrated, they will become a threat to the environment, humans, animals, etc.
The danger is from the gamma radiation emitted by these radioactive elements. If in low concentration and exposure time is short, gamma radiation will be low and will not be harmful to us (for example, X-ray) but if the radioactive elements concentration is high (for example, Lynas waste products) they will be hazardous to all of us and the environment.
Why are the two radioactive detection monitoring systems – installed at Lamp and at the Kuantan police station – valued at RM2 million?
A Geiger-Mueller radiation detector will tell you if there is radiation emitted from the raw material.http://www.malaysiakini.com/news/216281
Hello, didn’t Lynas say wastes to be exported? Malaysiakini Dec 10, 2012 Onyourtoes: What happened to the undertaking that the waste will be exported or moved out of country? Here, you can see that Lynas has negated its responsibility even before full scale production has begun.
Why do they keep saying the waste is harmless when there is so much control and restriction over the movement of this residue across borders?
The Lynas MD thinks it is a big deal for the company to spend a few million ringgit to counter anti-Lynas allegations and to install two “unnecessary” radioactive detection monitoring systems to rebut the allegation.
Look, the money spent was for you to assure us that the processes and movements of this material are safe. It is not for you to counter anti-Lynas allegations.
You better get the notion right in your moronic head. Given your attitude, I don’t think we can be assured of your promises and assurance over the long term.
We have no confidence that the regulatory authorities will stay vigilant, too. It is better you get out. http://www.malaysiakini.com/news/216281
”They will continue to pursue the judicial review cases to get the court to revoke the temporary licence given to Lynas on the grounds that Lynas still has no safe solution to tackle their radioactive waste,’
Lynas plant on line, protests to continue, SMH December 1, 2012 Glenda Kwek A MALAYSIAN environment group says it plans to continue campaigning for the closure of Lynas’ controversial rare-earths processing plant, as the Australian miner announced it had started production. Continue reading
The rally is a culmination of a 13-day march against the plant’s opening
Kuala Lumpur: 10,000 protest rare earth plant over health concerns Environmental activist group Himpunan Hijau organized the rally against the opening of rare earth company Lynas’ new plant. Global Post,Talia Ralph November 25, 2012 early 10,000 people took to the streets in Kuala Lumpur Sunday to protest the opening of Australia-based mining company Lynas’ new rare earth plant. Continue reading