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LYNAS RARE EARTHS LIMITED

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Australia's Lynas gets regulator nod for disposal facility in Malaysia

12/30/2021 | 03:17am EDT

Dec 30 (Reuters) - Lynas Rare Earths Ltd said on Thursday it has got environmental approvals from Malaysian authorities to build a permanent disposal facility for water leached purification residue in the country.

The Australian rare earths miner said it has done detailed assessments for the proposed facility at Gebeng industrial estate.

The disposal of low-level radioactive waste from Lynas' Malaysia plant has been a contentious issue, and identifying a location for the permanent disposal facility was part of the requirements set by the country's government when it renewed the company's licence to operate in Malaysia early last year.

Lynas, the world's biggest rare earths miner outside China, in late August received an extension on a deadline due to the 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. (Reporting by Sameer Manekar in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN RARE EARTHS LIMITED -1.08% 0.46 Delayed Quote.-45.29%
LYNAS RARE EARTHS LIMITED 1.17% 9.48 Delayed Quote.-8.65%
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Financials
Sales 2022 944 M 668 M 668 M
Net income 2022 554 M 392 M 392 M
Net cash 2022 686 M 486 M 486 M
P/E ratio 2022 15,3x
Yield 2022 -
Capitalization 8 456 M 5 983 M 5 983 M
EV / Sales 2022 8,23x
EV / Sales 2023 6,57x
Nbr of Employees -
Free-Float 99,0%
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 9,37 AUD
Average target price 10,56 AUD
Spread / Average Target 12,7%
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Managers and Directors
Amanda M. Lacaze Chief Executive Officer, MD & Executive Director
Gaudenz Sturzenegger Chief Financial Officer
Kathleen Marie Conlon Non-Executive Chairman
Philippe G. Etienne Independent Non-Executive Director
John Scott Humphrey Independent Non-Executive Director