Antinuclear

Australian news, and some related international items

Looks as if Malaysia will let Lynas keep its radioactive wastes there, after all

Malaysian minister capitulates on Lynas waste export condition, The Age,  By Colin Kruger, August 4, 2019   One of Lynas Corp’s fiercest critics in Malaysia has confirmed the country’s government will drop a requirement for the rare earths miner to export its radioactive waste from the country.

The confirmation, from Malaysian environment minister Yeo Bee Yin, all but secures Lynas licence to operate in the country beyond September 2 and could reignite a $1.5 billion bid for the business from Perth based conglomerate Wesfarmers.

Ms Yeo said the decision made by Cabinet to allow Lynas to setting up a permanent disposal facility (PDF) in Malaysia was a better outcome than earlier proposals, according to local press reports at the weekend.

A final decision from cabinet is expected later this month.

Ms Yeo had planned to visit Australia last month to discuss exporting the waste back to Australia, but the trip was cancelled after the West Australian and federal government rejected the proposal.

Lynas’ share price plunged in December when her ministry imposed a new condition on the extension of the company’s licence to operate in Malaysia beyond September this year. This included the removal of more than 450,000 of low level radioactive waste.

On Friday Lynas told the ASX it is scouting locations for a permanent disposal facility in Malaysia the day after Malaysian Prime Minister Mahathir Mohamad suggested this is the compromise that will secure its licence.

In May, the company said it would spend $500 million by 2025 on value added processing in the US and Malaysia as well as setting up a processing plant in Western Australia, near its Mt Weld mine, to extract radioactive waste from its rare earths before it is shipped to Malaysia.

On Saturday, Lynas managing director, Datuk Mashal Ahmad, issued a statement to the local media that the company is looking at disused mines as potential sites.

“There are a number of disused mines in the state of Pahang that require rehabilitation and a PDF can be designed such that it assists in the rehabilitation of this land, providing environmental benefits in a sustainable way,” he said in a statement……https://www.theage.com.au/business/companies/malaysian-minister-capitulates-on-lynas-waste-export-condition-20190804-p52dnl.html

August 5, 2019 - Posted by | AUSTRALIA - NATIONAL, politics international, rare earths

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