Lynas’ licence renewed for another 3 years

PETALING JAYA: Lynas Malaysia’s licence has been renewed for another three years till March 2023, the rare earths company has announced.

It said the renewal is subject to several conditions, including developing its permanent disposal facility (PDF) within the first year from the date of the approval.

Lynas must also submit a work development plan for the construction of the PDF and report on its development status, as determined by the Malaysian Atomic Energy Licensing Board (AELB).

The company has to ensure the cracking and leaching plant outside Malaysia is in operation before July 2023.

“After that period, Lynas will no longer be allowed to import raw materials containing naturally occurring radioactive materials (NORM) into Malaysia.”

Lynas’ financial deposit, it also said, will continue to be held “for compliance with the relevant licence conditions”.

Earlier this month, reports said the government had agreed to renew Lynas Malaysia’s licence for another three years.

In January, Lynas said it had received consent from Pahang, where the plant is located, to build a storage facility.

In thanking AELB for renewing its licence, Lynas Corporation CEO and managing director Amanda Lacaze said they are reaffirming their commitment to “our people”, 97% of whom are Malaysians, as well as contributing to the Shared Prosperity Vision 2030.

“Over the past eight years, we have demonstrated that our operations are safe and that we are an excellent foreign direct investor.

“We have created over 1,000 direct jobs, 90% of which are skilled or semi-skilled, and we spend over RM600 million in the local economy each year,” she said.

On Aug 15 last year, Putrajaya agreed to renew Lynas’ licence to operate in the country for another six months, subject to several conditions.