The share price of Lynas Corporation Ltd
(ASX: LYC) is up more than 6% after making an announcement this morning.
Lynas Corporation is a ‘rare earths’ minerals producer. Rare earths are minerals which are used as inputs to create many of the electronic devices (e.g. mobile phones) we know and use each day. Lynas has two large projects: Mt Weld in WA is a deposit and mining facility; Kuantan in Malaysia is a rare earths separation facilities in the world. Lynas is one of the world’s largest producers of rare earths outside of China.
Why The Lynas Share Price Is Up
This morning Lynas welcome the comments made by the Malaysian Prime Minister yesterday indicating that the export of water leach purification (WLP) residue will no longer be a condition of renewal of Lynas’s Malaysian operating licence.
However, the company is still awaiting formal notification from the Malaysian government about the renewal conditions.
[ls_content_block id=”18457″ para=”paragraphs”]
[ls_content_block id=”18380″ para=”paragraphs”]
