Lynas Shares Jump as Malaysia Operation Starts
Shares in Australian rare earths producer Lynas rose as much as 6 percent after it said it started operation at its long-delayed Malaysia processing plant on Friday.
Lynas said the first feed to kiln and commencement of operations were now underway at the Lynas advanced materials plant.
It also anticipated a ramp-up period of three to four months until its first commercial sales and subsequent cash generation.
The $800 million plant - the world's biggest outside China - has been ready to fire up since early May, but had been delayed by environmental and safety disputes.
Lynas shares were up 4.4 percent to A$0.71 by 2314GMT, but are still well below levels above A$1.50 at the start of the year.
Shares in Australian rare earths producer Lynas rose as much as 6 percent after it said it started operation at its long-delayed Malaysia processing plant on Friday.