He said the attitude and position taken by certain political parties on selected projects could directly impact foreign investors.

“For instance, Lynas. After 10 years of operating (in Malaysia), there hasn’t been a single case (made against them) involving the concerns raised previously,” he said during a debate on the Yang di-Pertuan Agong’s address in Dewan Rakyat.

He said that come July, Lynas would face a problem where the same conditions previously would be imposed.

“I think we need to stick to facts and the opinions of experts, both within the country and abroad, who have explained that the Lynas project does not bring about the adverse effects as claimed,” he said.

Earlier, FMT reported that Lynas’ operating licence in Malaysia has been renewed for three years effective March 3.

The licence was renewed with no change to its conditions, meaning the company would be prohibited from importing and processing rare earths after July 1.

“This is our sixth operating licence and the four licences granted prior to 2020 did not include these conditions,” Lynas CEO Amanda Lacaze said in a statement today.

The Australian rare earths producer, which has a processing plant in Gebeng, Pahang, will be required to close its cracking and leaching facilities after July 1 in accordance with the licensing conditions.

Before the renewal of its licence, several news reports had said Lynas would be barred from producing radioactive waste.

In May 2019, then prime minister Dr Mahathir Mohamad had said Lynas would be allowed to continue operating its processing plant in Gebeng. He said the government would have to renew the company’s licence as it did not want to lose such a large investment.

The operating licence for Lynas’ processing plant had been due for renewal in September that year, but was under threat following concerns over waste disposal.

Lynas had maintained then that it had always complied with the government’s storage regulations and that its residue storage facilities were operated in a proper manner.