After months of delays and doubts Lynas Corporation Limited
(ASX:LYC) has scored the temporary operating licence for its $US800 million rare earths plant in Malaysia.
Chairman Nick Curtis says receiving the licence from the Malaysian Atomic Energy Licensing Board is a significant milestone for the rare earths developer.
The approval to start operations will enable Lynas to start transporting rare earths concentrate from its Mount Weld deposit in Western Australia and prepare for first feed to kiln next month.
The temporary operating licence will be valid for two years after which it may become permanent if safety standards are maintained.
Shares in Lynas pulled back 0.83 per cent yesterday, closing at $0.595 before the announcement was made.
Lynas Corporation booked a net loss of $38.5 million in the first half of its 2012 financial year.
