Rare earths miner Lynas Corp said it continued to engage in discussions with the Malaysian government to try to resolve the remaining issues related to the renewal of its operating licence in the country as it reported record production in the March quarter.
“We have restated our commitment to Malaysia, to being a valuable contributor to the economy and to playing a vital role in supporting the development of Malaysia’s 4.0 Industries,” the company said in a statement on Tuesday.
“Following the successful implementation of the Lynas NEXT initiatives, the company is continuing work on a growth plan that could see production materially increase.”
It said no decisions had been made and an update would be provided in coming weeks.
Lynas, which is being pursued by former Coles owner Wesfarmers with a potential $1.5 billion indicative offer, faces closure of its Malaysian operations by September if it cannot comply with new conditions introduced in December due to the environmental concerns. These currently include the removal of more than 450,000 tonnes of residues containing low-level radiation.
More to come