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Player Avatar allanmsmith (< 20) Submitted: 11/9/2012 10:20:18 AM : Outperform Start Price: $0.75 LYSDY Score: -142.37

The Malaysian High Court has denied the application by the Save Malaysia Stop Lynas group for an injunction against Lynas’ temporary operating licence (TOL) for Lynas’ advanced materials handling plant (LAMP.) Lynas is now free to start operating their rare earth elements refinery, even as the application for a judicial review of the decision of the Minister of Science, Technology and Innovation to dismiss an appeal against the Atomic Energy Licensing Board’s decision to approve the TOL, is to go ahead. Although rare earth prices are currently low worldwide demand is expected to rise significantly China currently supplies about 95 percent of the world’s rare earths, used in high-tech equipment from iPods to missiles. Most of the rare earth production from the Lynas Advanced Materials Plant is already sold under long term agreements.

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