KUALA LUMPUR — Malaysia has renewed Lynas Rare Earths’ operating licence for a further 10 years, allowing the company to continue importing raw materials containing naturally occurring radioactive material and processing rare earths at its Malaysian plant.
The company said the Malaysian Atomic Energy Department is expected to issue the formal licence shortly, with the renewed approval set to take effect from March 3.
Shares in Lynas rose as much as seven per cent to A$20.30 in early trade, marking their highest level since October 21, 2025, even as Australia’s benchmark ASX 200 index slipped about 0.5 per cent.
The renewal comes after years of regulatory scrutiny. Malaysia had previously raised concerns over radiation levels linked to the cracking and leaching process at the plant, prompting uncertainty over whether the licence would be extended.
In 2023, authorities amended the licence to allow operations to continue until March 2026.
Lynas has since stepped up investment in its Malaysian operations, spending about A$180 million to build a new separation facility, as global demand grows for heavy rare earth oxides sourced outside China. — March 2, 2026