Lynas Corporation (ASX: LYC, OTC: LYSDY) has been buoyed by the High Court of Malaya’s decision not to approve an application for leave to apply for a judicial review of the approval of the granting of a temporary operating licence to the Lynas Advanced Materials Plant (LAMP) in Malaysia.
The application for leave to apply for the judicial review was opposed by both Lynas and the Malaysian Government.
The court ruled that because there is an appeal in process to the Minister of Innovation, Science and Technology, it would not be appropriate for it to intervene in the matter.
The appeal to the Minister is believed to be scheduled to be heard this month.
Nicholas Curtis, executive chairman of Lynas, said although the court had ruled in Lynas’ favour the present controversy in Malaysia surrounding the project was undermining both the LAMP and Malaysia’s international investment reputation.
“This concerted political campaign, which is based on misinformation, is sabotaging the science-based, regulatory process established in Malaysia and confidence in that process,” he said.
The LAMP project was first approved in 2007 and has since been reviewed and received approval from both the International Atomic Energy Agency and the Malaysian Atomic Energy Licensing board.
Curtis said the continued attempts to link Lynas’ plant to Bukit Merah are without foundation.
He said the tin mine waste used as the feedstock at Bukit Merah is completely different to the Mt Weld rare earths used to feed the LAMP.
According to Lynas, the Bukit Merah feedstock had radiation levels 30 times higher than the LAMP feedstock and the residue was 100 times the radiation levels of the LAMP by-product.