AUSTRALIAN rare earths miner Lynas Corp Ltd said on Tuesday it was unsuccessful in securing approval from a Malaysian regulator to increase its lanthanide concentrate processing limit for 2019.
As a result of the regulator’s decision, the miner’s total neodymium and praseodymium (NdPr) production for 2019 will be similar to that of 2018, it said, as previously warned.
The company had churned out NdPr at reduced rates during the second half of 2019 at its plant in Kuantan, Pahang, awaiting approval from the government to raise its processing limit.
NdPr is a key element in rare-earth magnets needed in the motors and generators of electric and hybrid vehicles, and wind turbines.
The regulator has given the company a list of additional reports which are now required for it to reconsider the application, Lynas said.
The processing limit resets on Jan 1 each year, and the miner said it intends to reapply for an increase for 2020. – Reuters
