On Friday, Australian-listed Lynas Rare Earths, which operates only in Malaysia and Australia, said in a press release that it was temporarily shutting down all of its Malaysian operations as the country’s government continuously expressed concerns over the radiation levels emitted during Lynas’s extraction process.
All of the operations, except for the mixed rare earth carbonate processing plant, are to be shut down temporarily.
During the interim shutdown, the mixed rare earth carbonate processing plant will continue to process a minimal amount of the raw materials.
Lynas shares were flat in Australian trade.
During the shut-down of Malaysian operations, the working crew based in the country will be deployed to Australia, where they can continue to work on a rare-earths processing facility start-up in Kalgoorlie, Western Australia.