Jan 30 – Australia’s Lynas Corp Ltd LYC.AX said on Thursday the Malaysian state of Pahang had approved a permanent disposal site for waste treatment, fulfilling one of the key conditions for continuing its operations in the country.
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Lynas, the only major proven producer of rare earths outside China, added that Gading Senggara Sdn Bhd has been appointed as the contractor to manage the project for $98 million.
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In August last year, Malaysia renewed the operating licence for Lynas’ processing plant for six months with new conditions including the identification of a site for a permanent facility to store its low-level radioactive waste.
The Atomic Energy Licensing Board, an agency under the Malaysia’s environment ministry, asked Lynas to present a plan to set up a cracking and leaching facility overseas within four years of the licence renewal. – Reuters