Lynas Corp update regarding NUF residue

Company News

by Rachael Jones

Lynas Corporation (ASX:LYC) has been in extensive consultation with the Malaysian government and regulators about the disposal of neutralisation underflow residue known as (NUF).

The company has now agreed a pathway for the management of NUF.

NUF is one of two solid residues produced at the Lynas Malaysia plant.

It is non-radioactive and non-toxic – it is a magnesium rich gypsum.

The updated NUF action plan includes commercialization options for NUF and a long term NUF disposal solution.
At this stage, Lynas does not expect that this will involve material additional compliance costs.

Lynas remain in ongoing discussions with the Malaysian government to seek to resolve the remaining issues related to WLP, which is the other solid residue produced at the Lynas Malaysia plant.

Shares in Lynas Corporation (ASX:LYC) closed 0.91 per cent lower to $1.64.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.