Malaysia to report on Lynas LAMP

Company News

Lynas Corporation Limited (ASX:LYC) has noted reports that the Malaysian government plans to established a parliamentary committee in relation to its rare earths refinery in Malaysia, the Lynas Advanced Materials Plant (LAMP).

The rare earths developer understands the committee has been formed to help raise awareness concerning the project and will not decide on approvals and plant operations.

The committee is expected to report by the end of June.

Lynas has advised it is continuing to consult with community representatives in Malaysia and has confirmed its belief in the projects safety for employees and surrounding communities.

Lynas secured a temporary operating licence for its plant last month and is targeting first feed to kiln and first production in the second quarter of this year.

In the first half of its 2012 financial year Lynas Corporation booked a net loss of $38.5 million. 

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