SYDNEY Jan 7 Australia's Lynas Corp Ltd
said on Monday it expects to produce commercial rare
earth products in the next few weeks from its controversial
plant in Malaysia, after commissioning the plant's cracking and
The process has achieved recovery rates of more than 90
percent of contained rare earth oxides through the cracking
units, which are now ready for production of individual rare
earth products, the company said.
"Lynas anticipates commercial rare earth products will be
available in the next few weeks with ramp up of production to
take place over the next three months," the company said in a
Lynas shares jumped 8.0 percent to A$0.68 in late morning
trade to a five-week high, but are still well below levels above
$1.40 around a year ago.
Lynas has been embroiled in lengthy environmental and safety
disputes with residents near the plant, and the Malaysian high
court is due to hear an application for judicial reviews to
block its operations on Feb. 5.
The $800 million plant, which opponents say is
environmentally hazardous, began operations in November 2012
after long delays caused by legal challenges and safety
disputes. Located in the east coast city of Kuantan, it had been
ready to fire up since May 2012.
(Reporting By Maggie Lu Yueyang; Editing by Richard Pullin)