Lynas Fails to Get Malaysian Regulatory Approval

  • Dec 17, 2019 AEDT
  • Team Kalkine

Lynas Corporation Limited (ASX: LYC) has failed to obtain Malaysian regulatory approval to increase the lanthanide concentrate processing limit for CY19.

  • The regulator has provided the company a list of management plans and additional reports that the new regulators now requires to reconsider the application;
  • The processing limit resets on January 1 and that it expects to reapply for an increase in calendar year 2020.

At AEDT 12:57PM, the stock was trading at $2.500 per share, down by 3.101 per cent from its previous close on ASX.

 

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