August 7, 2019 / 12:28 AM / 3 months ago

Malaysia to update on rare earths producer Lynas' licence in mid-August

Aug 7 (Reuters) - Rare earths miner Lynas Corp said on Wednesday the Malaysian government has indicated it will make an announcement on its operating licence there in mid-August.

Reuters reported on Monday, citing sources, that Malaysia plans to extend the company’s licence to operate an $800 million rare earths processing plant, although it could be for a shorter duration than the usual three years.

A decision to extend the licence by a Sept. 2 deadline is important for the market for rare earths because Lynas is the biggest producer outside China. (Reporting by Aditya Soni in Bengaluru Editing by Paul Tait)

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