Rare Earths MMI: Lynas Malaysia rare earths processing plant continues to operate at reduced rates agmetalminer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from agmetalminer.com Daily Mail and Mail on Sunday newspapers.
Australia s Lynas gets relief from Malaysian court in license renewal case Toggle share menu
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REUTERS: Australia s Lynas Rare Earths said on Thursday a Kuala Lumpur court had dismissed a lawsuit challenging Malaysia s decision to renew the company s operating license.
Malaysia in August 2019 extended https://reut.rs/3f7ek7i a license to Lynas rare earths processing plant on the condition that it build a permanent facility to store its low-level radioactive waste within six months, sparking protests https://reut.rs/3l3sMRz over environmental concerns.
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Lynas, the largest rare earths producer outside China, last year announced plans to build a permanent waste treatment facility in the Pahang state, complying with the government s condition for the renewal of the license.
Lynas (ASX:LYC) share price dips despite posting 944% increase in net profits
Marc Sidarous | February 26, 2021 10:34am |
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At the time of writing, Lynas shares are swapping hands for $5.44. Yesterday, the Lynas share price closed 1.39% lower to end the day at $5.66.
What did Lynas report?
The Malaysian/Australian mining corporation announced a net profit after tax of $46.1 million for the six months ending 31 December 2020. In the previous corresponding period (pcp) net profits were $3.9 million.
The enormous lift in profits were a result of multiple factors. Revenue was up $22 million ($202 million total) on the pcp. Expenses from normal activities went down by $1 million ($151 million total) on the pcp. This equates to a gross profit of $51.7 million – an 81% increase on the pcp.
MPs urged to amend contempt law and other news you may have missed
Modified20 Feb 2021, 11:24 pm
A
KINI ROUNDUP | Key headlines you may have missed yesterday, in brief.
Political scientist Wong Chin Huat called on MPs to review the contempt of court law to prevent a repeat of the Federal Court s RM500,000 fine against
Malaysiakini over readers comments.
Opposition representatives called for an immediate consultation to discuss media guidelines that are fair and built on a rights-based approach.
The European Union Ambassadors resident in Malaysia together with the ambassadors of Norway and Switzerland expressed concern over the ruling against
Malaysiakini, as did Umno leaders Najib Abdul Razak and Khaled Nordin.