Antinuclear

On shaky ground – Lynas’ ambitions for world’s biggest rare earths plant

Opposition leader Anwar Ibrahim said on Feb. 26 that his People Alliance coalition would scrap the project if it wins the country’s next general election, due by early next year.

The licensing board said in February that a temporary license would be subject to certain conditions, including a plan for permanent waste disposal.

Lynas Counts Costs as World’s Largest Rare-Earths Plant Held Up, Bloomberg, By Gan Yen Kuan – Apr 19, 2012 Lynas Corp. (LYC), an Australian miner, said it’s been “very seriously” impacted by delays in being issued with a refining license in Malaysia where the first phase of the world’s biggest rare-earths plant is nearing
completion……

The Sydney-based company, which Mashal said has
already spent 1.5 billion ringgit ($489 million) on construction and
equipment, can’t start importing raw materials from its Mount Weld
mine in Western Australia until it’s issued with a permit by
Malaysia’s Atomic Licensing Energy Board. The authority agreed to
grant a temporary operating permit in February subject to certain
conditions, though this has been held up due to appeals by protestors
to government and in court.
Malaysia won’t let Lynas operate if there is scientific proof that
it’s hazardous, the Malaysian Insider reported on March 22, citing
Prime Minister Najib Razak on the Chinese- language radio station
988FM. Opposition leader Anwar Ibrahim said on Feb. 26 that his People Alliance coalition would scrap the project if it wins the country’s next general election, due by early next year.
“Yes, we will scrap the plant,” Fuziah Salleh, an opposition member of
parliament for Pahang’s capital Kuantan, said in a text message to
Bloomberg News. “We have the political will to do so.”…..

Lynas’s Pahang plant would be the world’s largest refinery of the
minerals with total capacity of 22,000 tons per year should a second
phase be approved and completed, the company said on Nov. 16. The
miner, which has seen its shares slide 50 percent in Sydney over the
past year, plans to spend a total 2.5 billion ringgit on the two
phases, Mashal said…..’ This delay has impacted Lynas very
seriously.”
It wanted to start production in September last year. This was delayed
after the government imposed extra safety standards recommended by an
international review panel after residents expressed fears over
possible radiation and contamination….
Ministerial Review
Maximus Ongkili, Malaysia’s minister of science, technology and
innovation, heard an appeal this week by protestors concerned over
health and safety issues. The minister said on April 17 he would
announce the results of his review “as soon as possible” after
consulting experts and relevant authorities….. The licensing board said in February that a temporary license would be subject to certain conditions, including a plan for permanent waste disposal.
http://www.bloomberg.com/news/2012-04-19/lynas-counts-costs-as-world-s-largest-rare-earths-plant-held-up.html

April 21, 2012 - Posted by Christina Macpherson | Uncategorized