Lynas Corporation (ASX:LYC), a company focused on creating a fully-integrated source of rare earth from mine through to market, is set to finally see progress on its delayed REE plant after Malaysian lawmakers requested that the government issue a temporary operating license (TOL) despite community safety concerns.
Experts suggest that the plant could begin operating within four months of the issuance of a TOL.
“Among all the rare earths factories in operation, they (Lynas) are the most advanced, we were told by international experts,” select committee chairman Mohamed Khaled Nordin told reporters.
The project gained global attention when protesters in the city of Kuantan claimed there is a risk of dangerous radiation from the plant – something that few believe the Malaysian government could cope with if leakage were to occur.
Market price update
Despite stock reactions, REE prices remained relatively flat, with some elements displaying minor movements based on increasing supply.
Terbium metal prices recorded the largest drop, plunging 10 percent to trade between $3,000 and $3,100 per kilogram, while praseodymium oxide dipped 4.35 percent to $105,000 per metric ton (pmt). Neodymium prices remained flat, closing out the week at $100,500 pmt.
Yttrium oxide prices fell 1.85 percent to $25,100 pmt, and dysprosium metal dipped slightly to trade at $911.14 per kilogram. All other rare earth price points traded sideways for most of the week, recording no notable fluctuations.
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