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| Will Lynas be a benefit or a liability to the Malaysian people? |
Lynas Corporation, Ltd. is an Australian
rare earths mining company, listed on the Australian Stock Exchange as a
S&P/ASX 200 company. It has two major operations: a mining and concentration plant at
Mount Weld,
Western Australia, and a refining facility now under construction at
Kuantan,
Malaysia.
History:
The company was founded in 1983 as Yilgangi Gold NL. It became publicly listed in 1986 on the ASX. In 2001, it sold off its gold division and focused on rare earths. The company took on the Lynas name in 1985.
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| Lynas Advanced Materials Plant (LAMP) in Gebeng, Kuantan |
Facts retrieved by Save Malaysia about Lynas:
-LYNAS -AUSTRALIAN based mining company
-The company has been suffering from financial losses since 2003 after it acquired Mount Weld
-From 2003 till 2010, it has a total revenue of about A$28 million, but it's total losses during this period is about A$128 million. It has NEVER recorded a profit between this period.
-The paid up capital of Lynas Malaysia Sdn Bhd is RM 250,000.00
-Shares of Lynas went up 17-fold in less than three years. It was about
A$0.13 in Feb 2009 and today it is about A$2.25.
-LYNAS has finalised a $US325 million (RM975 million) financing package with Japan's Sojitz group to build LAMP (Lynas Advanced Materials Plant) in Gebeng, Kuantan.
-But, the financing package does not include the potential clean up cost of LAMP amounting to more than RM9 Billion (excluding other costs related to the irreversible harm done to the residents and environment) after 12 years.
-Lynas bought over Mt. Weld from Ashton after Ashton attempted to get approval from Australian government to start rare earth processing plant in Western Australia.
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Mount Weld rare earth mine in Western Australia
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Lynas Malaysia's Company Profile (Directors):
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| Company Directors - Page 1 |
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| Company Directors - Page 2 |
LAMP's Budget Breakdown:
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| Lynas Advanced Materials Plant's (LAMP) Budget Breakdown |
Well done. I am looking forward to your completion of this site. This certainly will help me in propagating our true cause and why Lynas must be stopped.
ReplyDeleteLol ..... i seriously dont get it why such a terrible company that plans to gain profit by causing health problems can still survive after having periods of financial problems and dont just go do something more better ...
ReplyDeletesame to me...
Deleteoh cidos..you dont know? the right question is why they'r having financial problem in Australia? and why now making profits when they are in Malaysia? because its in Malaysia!!All of our politician in Malaysia, they only looking for profits.Rules can be bend as long as you have A LOT OF MONEY . The country that we are living in is making money..But not for us citizen but for all of the Politician..Even thou the profits that they gain is Hazardous to us in such a ways..To them we are expandable..The soil is expandable..Again, rules can be bend..As long as you have AUSTRALIAN DOLLARS!!! ARE MALAYSIAN and MALAYSIAN SOIL is cheap?you tell me
ReplyDeleteSurely this is a joke ! Lynas still hasn't turned a profit because it hasn't produced anything to sell yet.
ReplyDeleteI am not sure how you think this has anything to do with safety.
Lynas indeed has a license to build a LAMP in Australia but the tax system in malaysia is more favourable and malaysia is closer to potential buyers.
The by product of the LAMP is to be used in road fill with radiation levels so low it isn't even classed as radioactive waste.
Get an education and don't waste your time debating things you do not understand.
The image on the top of the page says 'High Radiation area'. What a lie. There is more radiation in the cement that is used to build the walls in the unit you are living in right now. Thats right - turn around and look at the wall. That is more radioactive than LAMP waste.
ReplyDeleteStop paying attention to these ridiculous fear campaigns.