BENGALURU (Dec 30): Lynas Rare Earths Ltd said on Thursday (Dec 30) it had received environmental approvals from Malaysian authorities to build a permanent disposal facility for water leached purification residue in the country. The Australian rare earth miner said it had done detailed assessments for the proposed facility in the Gebeng Industrial Estate. Lynas, the world's biggest rare earth miner outside China, in late August received an extension of the deadline due to the Covid-19 pandemic to satisfy licence conditions to build the permanent facility. Australian rare earth miners have recorded strong gains this year on increasing popularity of electric vehicles amid a global push to reduce carbon emissions. Lynas shares have more than doubled so far this year and are on track for their best year since 2017.
