Malaysian Ministers Insist Lynas Honour Temporary Operating License, Export Residue

Bloomberg reported that in the latest development in rare earth miner Lynas Corp’s saga regarding LAMP , Malaysian ministers issued a statement re-inforcing Lynas Corp’s duty to export residue from its new rare earths refinery under terms of its temporary operating license, contrary to what Lynas Corp’s CEO said in a Dec. 11 conference call.

As quoted in the market report:

There will be no change in the government’s position to demand Lynas to remove the residue generated by LAMP out of Malaysia, consistent with the conditions stated in the temporary operation license,” the ministers said in the statement. “The government will ensure that all related government agencies will closely monitor the operation of LAMP.

To view the whole Bloomberg report, click here.