Lynas to update on Malaysian rare earth project

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Asean Affairs 30 June 2011

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Australian rare earths producer Lynas Corp plans to update the market on an independent review of its rare earths plant in Malaysia, it said on Thursday, requesting a trading halt on its shares.

The Malaysian government, under pressure to show that the plant does not pose any radioactive risk, recently set up an independent panel to review the health and safety aspects of Lynas's rare earths plant in the state of Pahang.

Malaysia's International Trade and Industry Ministry will hold a media briefing at 0300 GMT (11am Singapore time) on the same issue. Lynas had hoped to receive a pre-operation license for the plant by September.

The Malaysian plant was supposed to process rare earth concentrate shipped in from the firm's Mount Weld site in Western Australia. The site was scheduled to produce its first feed of ore in late March.

The strategy would make Lynas a key global supplier after top rare earths producer China last year imposed export quotas to retain resources.

Company officials said annual output from the Malaysian plant would hit 22,000 tonnes, meeting roughly a third of total global demand outside China by 2013.

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ASEAN ANALYSIS

This year in Thailand-what next?

AseanAffairs 04 January 2011
By David Swartzentruber

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

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