Lynas considers legal options as Malaysia wants radioactive waste removed

|About: Lynas Corp. Ltd. (LYSCF)|By:, SA News Editor

Lynas (OTCPK:LYSCF) says it will consider legal options after Malaysia's government added new conditions to license renewals for its $800M rare earths processing plant in the country, sending shares -22% in Australian trading.

Malaysia’s Energy and Environment Ministry said Lynas must to remove radioactive waste collected as a result of its activities over the past six years ahead of the expiration of two licenses next year.

The ministry says it is concerned about the growing amount of accumulated residue at Lynas’ open landfill temporary site that could be hit by major flooding or other natural disasters; the company says it is fully compliant with all regulations.

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