Lynas Corporation (ASX: LYC) has welcomed the announcement today by the Malaysian Minister of International Trade and Industry, Y.B. Dato’ Sri Mustapa Mohamad.
The Minister has appointed an independent panel of international experts to conduct a one-month review of the health, safety and environmental aspects of the Lynas Advanced Material Plant (LAMP).
LAMP is currently under construction in Gebeng Industrial Estate, Kuantan, Malaysia.
Lynas said the company continues to work with the Malaysian authorities, including the Atomic Energy Licensing Board and the Department of Environment, to ensure that the project construction continues to meet all requirements and adheres to international standards.
Lynas added that the company is confident the review will reconfirm that the plant is safe and presents no hazard to the community or Lynas workers.
Lynas believes the review will have no impact on the anticipated completion date of the project.
The company owns the richest known deposit of rare earths, also known as Lanthanides, in the world at Mount Weld, near Laverton in Western Australia.