On August 5, mining Weekly reported that Lynas rare earth company on Wednesday said it hopes to start building permanent rare earth storage facilities in Malaysia in early 2021.
Lynas is highly praised by the Malaysian government. The atomic energy licensing Commission has approved the site selection for permanent storage of water filtration purification waste, but the relevant research must be completed and the final regulatory approval has been obtained.
Lynus told its shareholders that it would submit all relevant research reports and apply for final regulatory approval in the next few months, adding that the site selection, design, construction, operation and closure of permanent rare earth storage facilities would meet the requirements of Malaysian regulatory authorities and become an international model.
Linus obtained a new license to operate in Malaysia for three years in March this year, which gives it the right to operate in Malaysia until March 2023.
A number of conditions have to be met for the new business license, including the start of construction of permanent storage facilities within the first year of the license approval. The company submitted a proposal for the construction of permanent storage facilities and reported its development status, which was decided by Malaysia atomic energy licensing Commission.
Lynus must ensure that its rare earth crushing and purification plant outside Malaysia is operational by July 2023. After that, the company will be banned from importing raw materials containing natural radioactive materials into Malaysia.