Malaysia renews Lynas Rare Earths' license for 10 years, orders end to radioactive waste by 2031 [Yahoo! Finance]
LYNAS RARE EARTHS S/ADR (LYSDY)
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Source: Yahoo! Finance
KUALA LUMPUR, Malaysia (AP) — Malaysia's government renewed Australian miner Lynas Rare Earths' operating license for 10 years but will require it to stop producing radioactive waste by 2031. The Lynas refinery in Malaysia, its first outside China producing minerals that are crucial for high-tech manufacturing, has been operating in central Pahang state since 2012. The company has been e mbroiled in a dispute over radiation from waste that has accumulated at the plant. Science Minister Chang Lih Kang said Monday that any radioactive waste generated within the next five years must be treated and neutralized by extracting thorium or other methods. No new permanent disposal facility will be allowed, he said. The license runs until March 3, 2036, and will be reviewed after five years. It can be revoked if Lynas violates its conditions, Chang said. Environmental groups have long campaigned against the Lynas refinery, demanding that the company export its radioactive waste. They co
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