Business

Lynas shares surge after TOL freeze rescinded

November 08, 2012

The Lynas refinery in Kuantan was previously expected to start operations last month. — Reuters picThe Lynas refinery in Kuantan was previously expected to start operations last month. — Reuters picSYDNEY, Nov 8 — Shares in Australia’s Lynas Corp rose 12 per cent after a Malaysian court lifted a suspension on its licence to operate a controversial rare earths processing plant.

The court will still hear judicial reviews to permanently block production, but refused to put a temporary stay on the licence until the judicial reviews start at a date that has not been set yet.

Shares in Lynas were 11.8 percent higher at A$0.81 (RM2.58) at 0500 GMT. — Reuters

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