KUALA LUMPUR - Australia's Lynas Rare Earths intends to withdraw its application for a judicial review of its operating licence conditions in Malaysia, a Malaysian government lawyer said on Wednesday.
Lynas earlier this year approached a Malaysian court to review its licence to operate in the Southeast Asian country after the government barred it from importing and processing lanthanide concentrate from January 2024 due to concerns of radiation from cracking and leaching operations.
However, the government last month said it will allow Lynas to import raw materials containing natural radioactive material and process rare earths until March 2026 provided the miner carries out thorium extraction to remove radioactive waste.
The court will decide on Lynas's application to withdraw its case on November 14, senior federal counsel Sallehudin Md Ali told Reuters.
Lynas did not immediately respond to requests for comment.
Lynas has been operating in the central Malaysian state of Pahang since 2012. Its share price jumped last month after the government allowed its flagship local refinery to continue operating.