Lynas Corporation Limited (ASX:LYC) has scored a victory in Malaysia with the High Court knocking back an attempt to delay the rare earths developer’s processing plant.
Lynas secured a two-year operating licence for its plant in February, from Malaysia's Atomic Energy Licensing Board, which had been called into question amid protests about radioactive waste.
The court has denied the request for a judicial review of the decision and also noted an appeal against the licence is in process, expected to be heard this month, and the court believes it is not appropriate for it to intervene.
Lynas executive chairman Nicholas Curtis says every safety box has been ticked for the plant's development and the controversy is being stoked by campaigns based on misinformation.
The company is targeting first feed to kiln and first production at its plant in the current quarter.
Shares in Lynas rose 2.49 per cent before the announcement was made yesterday, closing at $1.03.
Lynas Corporation posted a net loss of $38.5 million in the first half of its 2012 financial year.
