So its ok with Australia then when will the Lynas will be stock listed in malaysia?/
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PERTH, Sept 12 (Bernama) -- Western Australian Minister for Mines and Petroleum Norman Moore says there is no concern by the Australian government in respect to any operations of Lynas Corporation Ltd as the company has fulfilled all the requirements.
The Minister also voiced his pleasure in the company's involvement in developing its Mount Weld rare earth project as it has given Western Australia a chance to be a part of the world's rare earth business.
Moore, who is responsible for initiating the single biggest overhaul of Western Australia's mining industry's occupational health and safety system, also assured Malaysians that the level of radioactivity attached to the product from Mount Weld was very low, that it was not considered as Dangerous goods from the point of transportation regulations.
"So it can be transported from Mount Weld to Fremantle Port and exported (to Malaysia) from there and does not require the regulatory arrangement that would relate to dangerous goods with such a low level of radioactivity attached to it. So, it meets all the requirements," he told reporters at his office.
Lynas is building a RM700 million rare earth processing plant in Gebeng, Pahang, using raw materials sourced from its Mount Weld mine, to produce rare earth products essential for making hi-tech gadgets.
From the mine, the raw materials are taken to its concentration plant within the site and processed into concentrates before they are shipped from Port of Fremantle to Malaysia to be processed into rare earth products at its Gebeng plant.
Moore said the project was important because rare earth was in demand due to the range of products using this material.
"As you are aware, there is severe competition in the world. The Chinese government has almost a monopoly with respect to rare earth, so we are aware that other countries would like to have access to rare earth and as such, we are very keen for this project to go ahead," he added.
Meanwhile, China, which produces 95 per cent of the world's rare earth, has been cutting its export quota, causing a global shortage of rare earth.
With the rush to find alternative source, Lynas jumped onto the bandwagon, with its rich deposits of rare earth at its mine in Mount Weld, and had set up a Plant in Malaysia to be nearer to the markets.
As for opposition by some Green Party members in Australia to Lynas' Malaysian project, he said, products using rare earth were also green-related.
"Ironically, the products that used rare earth are in fact related to the things like wind turbines that the Greens might be supportive of developing because they are looking for renewable energy sources," he said.
Moore said he did not understand why they should oppose to a plant being developed in Malaysia which would provide employment and opportunities for the Malaysian people, adding that it was unfortunate for them to be also involved in Malaysian politics and the exaggerated circumstances surrounding the Gebeng plant.
"I must confess I don't understand the politics of Malaysia at the moment. I understand you are in an election mood and I can understand Green Group seeking to take advantage of the opportunities to promote the green agenda but I think it is unfortunate that the Australian Green should involve themselves in Malaysian politics, particularly these days, to be exaggerating the circumstances surrounding the project," he added.
Moore said the mining and transportation of the rare earth products from Mount Weld would be done under strict regulations in Western Australia and processing in Malaysia would be done under Malaysian laws which were rigorous as that of Australia's.
Source: Bernama
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