Malaysia’s government says it will allow Lynas Rare Earths to continue to import and process rare earths until March 2026. Science Minister Chang Lih Kang said licensing conditions that called for the Australian miner to halt all activities producing radioactive waste have been lifted.
Malaysia’s Minister of Science, Technology and Innovation Chang Lin Kang speaks during a press conference in Kuala Lumpur, Malaysia, Tuesday, Oct. 24, 2023. Australian miner Lynas Rare Earth has won a reprieve until March 2026 to continue its activities in its Malaysian plant that produce radioactive waste material.
Science Minister Chang Lih Kang said the two conditions for renewing Lynas’ license had been met after the company proposed a way to extract thorium, the radioactive element, from the raw rare earths it imports and from the more than 1 million tons of waste sitting at its factory.Malaysia will cut subsidies and tax luxury goods as it unveils a 2024 budget narrowing the deficitChang said the government’s about-turn was not a softening of its stance.
Lynas said in a statement it will raise its research and development investment from 0.5% to 1% of its Malaysian gross sales, to develop methods to remove naturally occurring radioactive material from residues.
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