Lynas shares rise on Malaysian election results
(BBC) – Shares in Lynas, which has a rare earth plant in Malaysia, surged 18% after the National Front coalition retained power in that country’s general election.
Australia’s Lynas has faced a long-drawn out legal battle against environmental activists in the country.
Opposition leader Anwar Ibrahim had said he would re-visit Lynas’ permit for the operation if he won power.
Rare earths are metals used in many household products such as mobile phones and TVs.
Lynas’s $800m (£502m) facility near the city of Kuantan, in Pahang state, is the largest outside China.
China controls more than 90% of the world’s supply of rare earth metals. Beijing has been accused in the past of restricting their availability to make a diplomatic point.
Read more at: http://www.bbc.co.uk/news/business-22423928
