save malaysia!
Malaysia to let Australia's Lynas to continue running rare earths plant
savemalaysia
Publish date: Thu, 30 May 2019, 06:31 PM
TOKYO/MELBOURNE (May 30): Rare earths miner Lynas Corp will be allowed to keep operating a processing plant in Malaysia, Prime Minister Tun Dr Mahathir Mohamad said on Thursday, ending months of uncertainty over the future of the Australian-based company's US$800 million plant.
Malaysia had earlier halted the process for renewing Lynas' licence because of waste disposal concerns.
Lynas is the only significant producer outside China of rare earths, which have military applications and are used in batteries, computers, televisions and many other products.
"We will allow Lynas to carry on because otherwise we are going to lose a very big investment from Australia," Dr Mahathir told reporters at a news conference in Tokyo. Dr Mahathir is in Japan to attend a business conference.
Lynas' status as a non-Chinese producer came into sharper focus this week after major Chinese newspapers, including the official People's Daily, reported Beijing was ready to use rare earths to strike back in its trade war with the United States.
China supplied 80% of the rare earths imported by the United States from 2014 to 2017, when it accounted for 81% of the world's rare earth production, data from the US Geological Survey showed.
Shares in Lynas have surged to more than five year highs on the mounting concern over the potential disruption to global supply chains if China does withhold supplies.
On Wednesday, Lynas shares rose more than 15%. On Thursday, they peaked at US$3.09 before closing at US$2.74, down 0.7% on the day, though trading ended before Dr Mahathir's comments were reported.
"Obviously the strategic value of Lynas, given what has happened with the US trade war, has just been highlighted," said Matthew Ryland of Greencape Capital, the company's second-biggest shareholder.
"That's a strategic value for all stakeholders not just Lynas shareholders. It's quite important for Malaysia now," he told Reuters.
The Lynas processing plant in Malaysia refines ore from a rare earths mine in Western Australia.
"We welcome the Prime Minister's comments and we will update the market when there are further developments," a Lynas spokesman told Reuters.
Lynas last week unveiled detailed expansion spending plans of A$500 million (US$347 million) designed to boost production and placate Malaysian regulators' concerns about the waste disposal at its plant.
The plan hinges on Lynas receiving its Malaysian licence renewal in September and comes after the company in March rebuffed a US$1.1 billion takeover offer from Australian conglomerate Wesfarmers Ltd.
Last December, Malaysia's environment minister said that Lynas must remove its waste stockpiles before the licence could be renewed. Lynas has maintained that it would not be possible for it to remove the waste within such a short timeframe.
"When we invited Lynas to invest in Malaysia we didn't expect that the waste would be a problem for us. A huge amount of waste is the result of processing... and there is some radioactivity," Dr Mahathir said.
"We need to do something with the radioactive material, perhaps spread it so we don't have radioactive material concentrated in one place."
(US$1 = 1.4430 Australian dollars)
https://www.theedgemarkets.com/article/malaysia-let-lynas-continue-running-rare-earths-plant-—-prime-minister
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Discussions
Be the first to like this. Showing 37 of 37 comments
http://www.mysinchew.com/node/82774
Will Wong Tack burn down the Lynas plant now?
2019-05-31 09:26
Ha..ha..ha....after being a politician, lynas is safe. Politician=politickling.
2019-05-31 09:28
just proves that PH is a BUNCH OF LIARS! promised sooooo many things before GE14, but after GE14 delivered NOTHING!
FARK!
2019-05-31 09:29
before GE14, speakup was hardcore DAP supporter (indirectly extended to PH lar) cos believed their promises. even donated a lot money to DAP for GE13 & GE14.
after GE14, speakup see they never keep their promises, all lies just to get votes! speakup angry, now no longer support DAP. FARK!
2019-05-31 09:40
y speakup > May 31, 2019 9:40 AM | Report Abuse
before GE14, speakup was hardcore DAP supporter (indirectly extended to PH lar) cos believed their promises. even donated a lot money to DAP for GE13 & GE14.
after GE14, speakup see they never keep their promises, all lies just to get votes! speakup angry, now no longer support DAP. FARK!
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u change faster than contra kaki.
2019-05-31 09:42
come GE15, speakup will not be donating even 1 sen to DAP (and PH).
speakup will not vote in GE15 cos no support both PH & BN. PH is no different than BN, why waste my time queue just to vote?
FARK!
2019-05-31 09:42
speakup is not always a good thing...
many times no speak better than speakup especially if speakup leads to American kind of politics and polarisation.
2019-05-31 09:44
I can predict success...by looking who is grateful who not.........I call it the grateful index,
2019-05-31 11:36
If Lynas must close, all others toxin chemicals like BASF, Petrochemical, plastic, all must close down as well to be fair...I breathe toxin air everyday in my township...wakaka
2019-05-31 12:00
TELAN MATI EMAK, LUAH MATI BAPAK…. This is a very huge health cost we must pay for the sake of jobs, and nation's developments...otherwise, all mau makan apa lei??? wakaka
2019-05-31 12:01
osted by unpredictable > May 31, 2019 11:56 AM | Report Abuse
from your post I can see u are brainless talking without sense.
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my grateful index very accurate one.
2019-05-31 12:03
RAPID, DIALOG pengerang, Langsat Terminal, Tanjung Bin with all chemical tanks storage. All must close as well. wakaka
2019-05-31 12:03
LOTTE CHEMICAL TITAN HOLDINGS BHD, this must close down as well to be fair....wakaka
2019-05-31 12:07
Diesel, petrol car, all also air polluted. We ban them. we ride bicycle to office. OK. everyone agreed dont drive la. wakaka
2019-05-31 12:11
Plam oil plantation also very environment damage. Weed Killer, pesticide, fertilizer, all flow into river stream. Many planters died young due to all these chemical inhalation. Then, we eat fish intoxicated. at the end, all also died. wakaka
2019-05-31 12:16
I never said i agreed with Lynas....of course, prefer all chemical factory close. I'm asking what other options we have to make a living without all these developments?
2019-05-31 12:19
sted by unpredictable > May 31, 2019 12:11 PM | Report Abuse
the problem is u are brainless, don't know what is accuracy in your judgement.
============
based on my very reliable grateful index, it is very predictable that unpredictable has no happy ending.
2019-05-31 12:27
Wong Tak, mana Wong Tak. Bukan main kencang wor before GE14. PH menang , Lynas akan dibakar....ambui...
Lynas masih berdiri teguh ini hari dan boleh beroperasi. Wong Tak can win Oscar of the year already.
2019-05-31 17:02
Kikiki, I never trust the politician. What politician say, normally I'll put 50% expectation. But PH politician really champions, I have to reduce the expectation from 50% to 10% only. hahahahaha
2019-05-31 17:06
Pm said cannot put concentrated in one place., must spread so that all hit with radiation as well. wakaka
2019-05-31 17:49
Just close the damn thing down! Rare earth processing is too toxic for the environment.
2019-05-31 19:43
y Iamyou > May 31, 2019 7:48 PM | Report Abuse
stockmkt101, human is toxic to environment to begin with.
=======
that is a good quote., next....
human is toxic to environment to begin with
and Americans are most toxic of humans.
2019-05-31 19:51
that is a good quote., next....
human is toxic to environment to begin with
and Americans are most toxic of humans.
its not Dr M fault.
2019-05-31 19:52
Posted by unpredictable > May 31, 2019 7:51 PM | Report Abuse
Govern poor, Mahathir need money to make his pet car which need constant bail out, raayat's lives not important!!!
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u should just say Japan needed all those rare stuffs.
2019-05-31 19:53
what M is doing is called having good relations with Japan....and China and Australia....
America be damned.
2019-05-31 19:59
what M is doing is called having good relations with Japan....and China and Australia....
America be damned.
Pekan folks? They deserve it.
2019-05-31 20:00
Whether rare earth elements are harmful or not depends on the amount and duration of exposure. Usually, only when a person is exposed to a great quantity of REE over a long time, is it possible the result will be serious.
REE effects on human healthFor example, the Bukit Merah mine in Malaysia has been the focus of a US$100 million clean-up which took place in 2011. "Residents blamed a rare earth refinery for birth defects and eight leukemia cases within five years in a community of 11,000 people after many years with no leukemia cases." Seven of the leukemia victims died. After having accomplished the hilltop entombment of 11,000 truckloads of radioactively contaminated material, the project was expected to entail the removal, in summer, 2011, of "more than 80,000 steel barrels of radioactive waste to the hilltop repository." One of Mitsubishi's contractors for the clean-up was GeoSyntec, an Atlanta-based firm. Osamu Shimizu, a director of Asian Rare Earth, said: "The company might have sold a few bags of calcium phosphate fertilizer on a trial basis as it sought to market byproducts," in reply to a former resident of Bukit Merah who said: "The cows that ate the grass grown with the fertilizer all died." In addition, the cancer rate in the village of Baiyun Obo mine is quite high, and the sheep's wool is ugly in appearance, and some sheep having internal and external double teeth.
Lipton oolong tea found with toxic content in China
Tea with excessive levels of REEA Tieguanyin variety of oolong tea, produced by Lipton, part of the Unilever group, was found to contain excessive levels of potentially harmful rare-earth elements, China's quality watchdog said in 2011.
How do REE get into and out of the body?
Usually, REE get into the body via the mouth, respiratory tract, skin and injections. The ways it is removed from the body include: Ln, mainly by the urine, bile and gastrointestinal tract; commonly, from La to Sm, out of the body along with the bile discharge; and from Tb to Lu, mainly via the kidneys along with urine.
2019-05-31 20:17
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speakup
what happen to anti-Lynas MPs Wong Tack & Fauziah who strongly opposed Lynas in Kuantan. Wong Tack even threatened to burn down the Lynas plant.
Why they no resign?
2019-05-31 09:23