Lynas ‘comfortable’ with Malaysian plant

Posted on August 3, 2011. Filed under: Pollution |

-The West Australian-

Lynas Corp executive chairman Nicholas Curtis says he feels “very comfortable” with the company’s relationships in Malaysia, one month after community concerns forced it to beef up safety.

“We’re very comfortable,” Mr Curtis told reporters on the sidelines of the Diggers and Dealers conference in Kalgoorlie-Boulder.

“We’re finding that there are a recalcitrant few who are unlikely to be listening to the facts but… we’re not seeing a problem.”

He said the group had “underestimated the power of social media in pushing this issue”.

A Malaysian Government-commissioned report released in June largely dismissed community concerns about the threat of radioactive pollution.

However, it made 11 recommendations that Lynas will have to adopt before it is granted an operating licence, including setting up a long-term waste management program and a decommissioning fund.

Mr Curtis said the company faced an “extraordinary” once-in-a-lifetime opportunity to take advantage of China’s decision to clamp down on exports.

“The outlook for rare earths remains very strong,” he said.

“We think we are there to sustain this market for the very long term.”

Lynas shares were off four cents, or 1.88 per cent, to $2.09 at 12.20pm.

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