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Court to rule on Lynas licence

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AAP

2012-11-08

Shares in rare earths miner Lynas Corporation have been halted from trade ahead of an outcome in a court case relating to its licence to operate a plant in Malaysia.

Lynas was granted a temporary operating licence for its controversial advanced materials plant on Malaysia's east coast in September, but local activists have sought a judicial review of that approval.

Environmental activists and local residents argue the plant will produce radioactive pollution.

The Kuantan High Court is scheduled to make a decision on Lynas' operating licence on Thursday.

Lynas shares last traded at 72 cents, well below the 89.5 cent-level they reached after the temporary operating licence was granted.