Published 9:43 AM, 8 Nov 2012 Last update 10:47 AM, 8 Nov 2012
By a staff reporter
Lynas Corporation Ltd shares have been placed in a trading halt pending a release to the market regarding the outcome of a Malaysian High Court decision.
In a statement to the Australian Securities Exchange, Lynas said the announcement will concern the decision of the Kuantan High Court on an application by parties associated with the ‘Save Malaysia Stop Lynas’ group for an injunction against Lynas’ temporary operating licence.
Lynas was granted a temporary operating licence for its controversial advanced materials plant on Malaysia’s east coast in September, but local activists have sought a judicial review of that approval.
Environmental activists and local residents argue the plant will produce radioactive pollution.
The Kuantan High Court is scheduled to make a decision on Lynas’ operating licence today.
Lynas shares last traded at 72 cents.
The trading halt will remain in place until an announcement to the market or the commencement of trade November 12.