Lynas Rare Earths stock jumps after Malaysia grants 10-year licence, setting up Tuesday trade
Shares of Lynas Rare Earths jumped as much as 7% to A$20.30 after Malaysia renewed the company’s operating licence for 10 years, allowing continued rare earth processing. The ASX 200 slipped about 0.5%. Lynas confirmed the renewed licence will start March 3, with formal paperwork pending. The company has spent about A$180 million on a new separation facility in Malaysia.