IAEA Completes Lynas Probe

Source: AAP (6/20/11)

"The proposed plant could curtail China's monopoly on rare earth metals."

AAP

The investigation by the International Atomic Energy Agency (IAEA) into whether a planned Australian-built rare earth refinery in Malaysia presents radioactive risks is due to report this month.

The IAEA's 10-member team finished their review of radiation safety at Lynas Corporation Ltd's Advanced Materials Plant in early June, Lynas said in a statement on Monday.

Public protests have been growing about low-level radioactive waste from the planned plant near Kuantan in eastern Malaysia.

The IAEA team's report and recommendations will be provided to the Malaysian Government by the end of June, with the panel's findings and recommendations public.

The team had held technical and public meetings and met Lynas project staff and visited the construction site during its weeklong mission, the statement said.

Rare earths prices are booming and Lynas owns a rich deposit at Mount Weld in Western Australia.

China controls more than 95% of global supply and Lynas' proposed plant could curtail China's monopoly.

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