SYDNEY, Feb 2 — Shares in Australia’s Lynas Corp jumped 20 per cent in early trade today after Malaysian authorities approved a temporary operating licence for its US$200 million (RM608 million) rare earths processing plant.

The approval by the Malaysian Atomic Energy Licensing Board yesterday eases uncertainty for Lynas and investors after speculation that the licence could have been rejected in the face of opposition from political parties and residents near the plant ahead of national elections expected within months.

At 2310 GMT, the shares were up 21 per cent at A$1.62, their highest level in four-and-a-half months. — Reuters