Jan. 30 – Make or Break for Lynas Malaysia Rare Earths Plant

Jan. 30 may just be a regular date and day for most global citizens, but for Australian rare earths miner Lynas Corp., Jan. 30 may well be its sweetest taste at victory over its highly controversial Malaysian LAMP advanced materials plant.

Lynas Corp., which aims to break China's long-standing control of the world's global supply of rare earths, on Thursday said the Malaysian Atomic Energy Licensing Board (AELB) has scheduled to discuss the fate of Lynas' temporary licence on Jan. 30.

Earlier, the AELB put up for public consultation the application for a temporary operating licence it gave Lynas Corp. The document is currently on display in various offices and sites in Malaysia from Jan. 3 to 17.

If the temporary licence passes on Jan. 30, it then effectively allows the Australian miner to commence operations as early as next month. After which, a permanent operating licence may be issued within two years, Lynas Corp. said in Reuters News.

"We're anticipating a decision at that meeting," The Australian quoted a Lynas spokesman as saying.

The Mount Weld Rare Earth Project near Leonora in WA is one of Lynas Corp.'s asset base. The other is the LAMP plant in Malaysia. Under Phase 1, combined output from the two projects is expected to reach 11,000 tonnes of rare earth metals annually. Lynas Corp. expects first production output late 2012. Production is likewise expected to double with the completion of Phase 2 expansions by the end of 2012.

Mount Weld is already operational, with buyers already lined-up to purchase its yield. The final stumbling stock that remains is Malaysia's approval on the LAMP plant. Once approval is secured, Lynas Corp. is touted to become one of the world's biggest rare earths producers that could possibly give China a run for its money and rare earths produce, a group of 17 elements essential to make high-tech electronics, magnets and batteries as well as renewable energy products like hybrid cars.