Trading Room home page

Lynas beats off new activist challenge

Market watch top headlines

Australian reports

World reports

Stocks to watch

GXL, HVN, NAB, QAN, TSE, VAH, WOW,

SYDNEY, Jan 29 AAP

January 29 2013, 6:47PM

Lynas Corporation says a state-based High Court in Malaysia has denied an application by environmental activists to seek a judicial review the licensing process for its rare earths processing plant.

It said the Kuantan High Court had denied an application by persons associated with the Save Malaysia Stop Lynas group for leave to seek a judicial review of the Atomic Energy Licensing Boards' decision to issue the Temporary Operating Licence (TOL).

In a statement to the Australian Securities Exchange on Wednesday, Lynas also said there remained no injunction or stay preventing Lynas from continuing to carry out its operations at its Malaysian plant.

In December Lynas and the Malaysian government were successful in defending another challenge by persons associated with the Save Malaysia Stop Lynas group to Lynas' TOL.

At the time the Malaysian Court of Appeal dismissed an appeal with costs in favour of Lynas against the Kuantan High Court's earlier decision to deny an application for an injunction against the TOL, pending the latest judicial review hearing in 2013.

Lynas owns one of the richest sources of rare earths at its Mount Weld mine in West Australia.

But it has chosen to process the ore in Malaysia, after an earlier plan to build a refinery in China fell through, because of Australian government objections to the likelihood that China would impose restrictions on Lynas' products.

Rare earths are a group of 17 minerals that are essential in a wide range of modern technology, from hybrid car batteries to low-energy light bulbs.