A problem has emerged in relation to the LME's "load-in and load-out" rules, which specify the tonnage that has to be shipped out when a queue to deliver metal is longer than 50 days.
Malaysia Mining News
The rare earths miner said its board had concluded it would not engage with retail and industrial conglomerate Wesfarmers, stating its unsolicited takeover offer undervalues Lynas' intellectual property.
Lynas, one of the world’s main suppliers of rare earths outside China, said it was open to processing materials closer to its Australian mine if that meant it can renew its licence in the Southeast Asian country.
Comments foreshadow an intense takeover battle for the only proven producer of rare earth elements outside China.
The offer represents a premium of nearly 45% on Lynas' closing price on Monday, but comes come with some significant conditions, including the rare dearth miner securing all necessary licences in Malaysia.
On the upside, the RNI report shows that 24 nations have seen improvements in their index performance.
Glencore has lodged a complaint with the LME for an ongoing dispute with the warehouse operator at Port Klang, Malaysia.
Miners wishing to resume operations or start new ones must conduct a study on the environmental impact of their activities before receiving licences.
Ernst & Young report raises concerns about the company’s future due to Malaysia’s order to remove its radioactive waste by September.
It's little surprise that environmental activists may be tempted to pop champagne corks.
Malaysia was once the biggest supplier of bauxite to top buyer China, with shipments peaking at nearly 3.5 million tonnes a month.
The majority of material from the Malaysian distribution center is Brazilian Blend fines destined for China.
The company said the fire should have a reduced impact on shipments as 10 days of preventive maintenance was already programmed at the terminal.
Lynas $800 million plant on the east coast Malaysia began operations in 2012 after long delays caused by legal challenges and environmental disputes.
The Australian rare earths miner said it was disappointed with Malaysia's decision to impose new conditions on its licence to operate in the country, adding it was considering all options, including legal action.
It needs to be removed by September 2, 2019, when Lynas' temporary storage licence expires.
The shutdown of the controversial plant could see the Australian rare earths producer take a A$16 million hit.
The Australian rare earths miner has been granted an extension to a temporary permit to store residue at its Malaysian site.
The precious metal can help save lives.
From vacuum cleaners to electric vehicles.
465,000 tonnes of nickel play 'hide and seek'
Deputy Minister Fuziah Salleh, a long-standing critic of Lynas’ plant, offered to step down from the committee reviewing the facility following criticism that she would not be impartial.
Shares in Australian rare earths miner Lynas Corp jumped 12 percent on Friday after Malaysia's prime minister downplayed the roles of two Lynas critics.
The newly-elected coalition government is said to be ready to launch a three-month evaluation of Lynas' rare earths processing plant, which may end with authorities denying the company’s operating license renewal in Sep. 2019.
Malaysian media reported the newly-elected coalition government will shortly begin a three month evaluation of the company's rare earths processing operations in the province of Kuantan.