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Lynas' (LYSCF.PK, LYSDY.PK) plans to ramp up rare earth materials via its new Malaysian plant...
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Monday, December 10, 2012, 3:19 PM ETLynas' (LYSCF.PK, LYSDY.PK) plans to ramp up rare earth materials via its new Malaysian plant suffer a setback, as four ministers say it must export waste material in Malaysia or risk having its operating license revoked. The ministers' statement followed reports citing Lynas Malaysia's director as saying the company would not export residue from the plant. MCP +19.8%, AVL +10%, REE +9.5%.
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Also, Australia could accept waste material that has been diluted or treated for use in a Lynas factory in western Australia.
I really don't see Lynas giving up its license ove the LAMP waste.
I have followed the press reports on the Internet and find that lots of Malaysian people are completely ignorant and easily lead by self interest or lack of education and on top of it all its Political agenda maybe it wants to become a Islamic state? or there is corruption from the people in government one can get easily confused as for now I have not heard anything nice being said about Australia or its people i see it as totally unappreciated that Australia is not anti Malaysian like Malaysians are anti Australian but for now I would not go on a Malaysian holiday and spend my good Aussi Dollar in a place where they have nothing but contempt and self interest and corruption from the top down to the uneducated peasant. I am somehow also amazed by Lynas ... they must have seen the red light long ago or were they blind had they build it in Australia they might have paid more and had to pay some tax but it would have been for the good of the Country and the LAMB would be running by now and not just milking the Shareholders for w political game to maintain the investment which is unwanted in Malaysia, they might prefer to stay in the 1800 's in their attitude, I don't lay all the blame on Malaysia and its people as they might not know any better and many can't read or can form their own opinion, sad but true. I would also say to Lynas's management that they do not lose as they make sure their pay packet is in top condition never mind the Shareholders this is a typical way of how companies work in Australia self interest 1st and than the people they ask to feed the bill in taking up more shares to save the LAMB. But there is an old saying " you buy peanuts you get monkey" or cheap is not always good? Shame on Lynas's board of Directors and Shame on Malaysia and its political ineptness as i can not see that they act in a unified way every Tom Dick & Harry in their Government has an opinion to save their own ass and it appears to me it could be a misguided way to think they want to progress or do they want to turn it into an Islamic state like the recent events in Egypt and other countries in North Africa & Middle East.
I am not at all impressed with Malaysian Politic and its people after reading how they disrespect not just Lynas but what they think of the Australian People, I am sure I will not visit Malaysia knowing that they regard us Australians the trash of South east Asia. I am disgusted with the whole matter Lynas and Malaysian politicking. Illiteracy has always been the demise of people who are easily influenced and led.