Lynas Corp had scored a stamp of safety approval from no less than the Malaysian Parliamentary Committee, which continuous the Australian miner's winning streak to get its controversial rare earths processing plant operational in Malaysia.
Shares of Australian rare earths miner Lynas Corp. jumped to as much as 7.4 per cent in early trade on Friday as the mining company reached a "significant milestone" with the start of operations of its highly-controversial Malaysian processing plant.
The Parliamentary Select Committee (PSC) on Thursday conducted a five-hour visit to the Lynas Advanced Materials Plant (LAMP) facility in Gebeng to inspect the overall construction of the rare earths processing plant as well as personally see the possible ill effects of any potential radiation to the nearby communities.
All in all, the committee led by Datuk Seri Mohamed Khaled Nordin, who is also the country's Higher Education Minister, found the LAMP facility safe.
"Several experts have also confirmed that this plant is safe and has state-of-the-art facilities, hence helping Malaysia move into the 21st century and gain knowledge in advanced technology, research and development, and human capital development," Mohamed Khaled said.
Datuk Mashal Ahmad, managing director of Lynas Malaysia Sdn Bhd, led and briefed the group on the plant's overall operations. The Lynas Malaysia Sdn Bhd executive explained to the group the facility is only a chemical-based plant, similar to many others located in Malaysia.
"Rumours have been spreading that the plant was like a nuclear reactor. Due to the accusations of certain parties, the standards used to regulate the plant now are based on that of a nuclear reactor," he said.
The group likewise was able to observe that the plant's location is far away enough from residential areas and even 6 kilometers away from the coastline.
During the visit, the PSC noted the willingness of Lynas Malaysia Sdn Bhd to answer all questions hurtled against the plant, its highly contested residues and radiation scare to the environment.
"Lynas is a company that can be trusted as they willingly gave us all the facts and explanation that we wanted," Mohamed Khaled said.
"Moreover, Lynas said its plant is open to public scrutiny all the time. However, those who wish to visit the plant should not impose conditions on Lynas," he added.
Malaysian Prime Minister Datuk Seri Najib Razak in March ordered the creation of the PSC to help raise awareness concerning the LAMP project and on Lynas Corp., its' supposed radiation effects as well as contributions to the country's economic growth.
Lynas Corp. welcomed the PSC as it believed it does have any power to decide on approvals and plant operations.
Meant to challenge China's dominance in the rare earths sector, the LAMP is already 98 per cent done under phase one construction and is expected to supply about 11,000 tonnes in its first year, eventually rising to 22,000 tonnes. Its operation has been delayed by eight months.
To contact the editor, e-mail:
Most Popular Slideshows
- Australia Bids Adieu to Adam Spencer's Mornings on ABC's "702 Breakfast" Show [PHOTOS]
- SEE PHOTOS! Eva Longoria Wears No Panties at Cannes 2013, Revealed in Embarrassing Wardrobe Malfunction [SLIDESHOW]
- Top 10 Hottest Celebrities with Shocking Weight Loss (And Find Out Their Secrets!) [PHOTOS]
- Demi Lovato Snapped Getting Flirty with The X-Factor Boss, Simon Cowell? [PHOTOS]