Malaysia has approved Australian rare earths miner Lynas Corp’s (ASX: LYC) application to build a permanent disposal facility for waste treatment, a minister said on Tuesday.
The miner, the world’s only major producer of rare earths outside China, can now proceed with construction of the waste plant, on a site identified by the Pahang state government, Khairy Jamaluddin, science, technology and innovation minister said, The Edge Markets reported.
In August last year, the Sydney-based company was able to renew the operating license for its Malaysian processing plant for six months, subject to conditions that included identifying a site for a permanent facility to store its low-level radioactive waste.
Lynas was also asked to put forth a plan to set up a cracking and leaching facility overseas within four years of the license renewal.
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