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Lynas Uncommon Earths (OTCPK:LYSCF) (OTCPK:LYSDY) stated Friday it’ll shut down most operations in Malaysia for about two months to implement an improve to downstream operations to extend NdPr manufacturing capability to ~10K tons/yr.
Lynas (OTCPK:LYSCF) (OTCPK:LYSDY) stated the extra capability can be important if its Malaysian working license is up to date to permit the continued import and processing of uncooked supplies from January 1; if the license will not be prolonged, the extra downstream capability can be utilized for a brand new facility in Kalgoorlie, Australia.
The Malaysia refinery has operated since 2012, but it surely has been locked in a battle over considerations about radiation from waste accumulating at its plant.
Lynas (OTCPK:LYSCF) (OTCPK:LYSDY) stated a Malaysian court docket is ready to listen to in November its software for a keep to permit it hold working on the refinery whereas different administrative and authorized appeals are being heard.
The corporate additionally reported a 21.8% decline in FQ1 revenues to A$128.1M (~US$81M), damage by decrease uncommon earths costs and continued accumulation of stock.
