Lynas Corporation (ASX:LYC) awarded Major Project Status

Company News

by Katrina Bullock

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$2.230 $0.022 0.99%
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Last Updated: 20/02/2020 10:12 AM

The Australian Government has awarded rare earth producer, Lynas Corporation (ASX:LYC) Major Project Status to establish its new processing plant in Kalgoorlie, Western Australia. 

The status provides a single entry point for Commonwealth Government approvals as well as project support, coordination and assistance with State government approvals.

The company says the Lynas project will be a foundation for the development of infrastructure in Kalgoorlie, including utilities and the production of chemicals used in minerals processing beyond the rare earths industry.

Shares in Lynas Corporation (ASX:LYC) closed 1.86 per cent higher at $2.19 on Friday.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.