[BENGALURU] Australian rare earths miner Lynas Corp said on Tuesday it was unsuccessful in securing approval from a Malaysian regulator to increase its lanthanide concentrate processing limit for 2019.
Shares of Lynas fell as much as 5.8 per cent after the announcement, its worst slump since Aug 23. By 0120 GMT, the shares pared losses to trade at A$2.50, down 3.1 per cent.
As a result of the regulator’s decision, the miner’s total neodymium and praseodymium (NdPr) production for calendar year 2019 will be similar to that of 2018, it said, as previously warned.
