SYDNEY: Malaysia has renewed Lynas Rare Earths' operating licence for 10 more years to import raw materials containing natural radioactive material and process rare earths, the Australian miner said on Monday.
Shares of Lynas rose as much as seven per cent to A$20.30 by 0131 GMT, hitting their highest level since Oct 21, 2025, while the broader ASX 200 benchmark was down about 0.5 per cent.
The Malaysian Department of Atomic Energy is expected to issue the formal licence soon, Lynas said, adding that it would come into effect from Mar 3.
A few years ago, the Southeast Asian country had raised concerns about radiation levels from the process of cracking and leaching, raising concerns that Lynas' licence would not be renewed.
In 2023, the government amended the licence to allow the Australian firm's operation until Mar 2026.
Lynas has been investing in its Malaysia facility, spending about A$180 million (US$127.91 million) to build a new separation facility amid rising demand for heavy rare earth oxides sourced outside China. - NST
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