LYC 4.45% $7.28 lynas rare earths limited

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    2. Letters in relation to removal of residues from Malaysia

    There has also been media commentary on letters signed by Lynas in 2012 in relation to removal of residues.

    The AELB has issued three consecutive operating licences to Lynas Malaysia - the Temporary Operating Licence (3 September 2012 - 2 September 2014) and two Full Operating Stage Licences (3 September 2014 – 2 September 2016 and 3 September 2016 – 2 September 2019).

    All three licences require Lynas Malaysia to carry out R&D on the safe use of the WLP residue generated, failing which Lynas Malaysia shall site, construct and build a PDF to store the WLP residue. ONLY if these two options fail will Lynas be required to export the WLP out of Malaysia.

    Consistent with the licence conditions noted above, the letter signed by the then Lynas Corporation Executive Chairman on 23 February 2012 explicitly states: “Lynas Corporation Australia hereby gives a full undertaking to, if necessary, remove from Malaysia all waste generated by the Lynas Advance Material Plant in Gebeng, Kuantan during the Temporary Operating License’s period”.

    This letter related to the third of the three options for Lynas Malaysia’s WLP residue listed above, and it only related to the residue generated during the two-year Temporary Operating Licence period.

    https://hotcopper.com.au/threads/ann-clarification-of-media-reports.4578465/#.XGy0WKIzZhE
 
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