Lynas Corporation Limited (ASX:LYC) has advised that the Lynas Advanced Materials Plant in Malaysia is nearing completion. Speaking at the International Rare Earths Conference in Hong Kong chairman Nick Curtis said the project will be finished in weeks and is on track to open at the beginning of 2012.
Lynas plans to ship rare earths concentrate from its Mt Weld mine in Western Australia to its Malaysian refinery.
Separately, Fairfax Media says Lynas could be slapped with a lawsuit as soon as today if it fails to recognise a claim by a South African geologist to the Kangankunde rare earths resource in the African country of Malawi.
Lynas said it had finalised a $US4 million purchase of the Kangankunde tenements in March this year.
Fairfax says it has obtained a legal letter claiming Lynas knew of the previous owners claims to the tenements, as early as 2008, and that Lynas offered him money to surrender ownership.
Lynas Corporation booked a net loss of $59 million in fiscal 2011.
