Lynas Corp sinks as Malaysia orders rare earth plant safety review
Australia's Lynas Corporation lost more than 11% of its value on Friday after it emerged the company's Malaysian rare-earth refinery may be delayed by a government review that called for higher safety standards, further limiting supply of rare earths. Once in operation, the Lynas project could account for more than a third of the world’s supply outside of China.
China in recent months closed or consolidated more than 35 rare earth mines and cut export quotas sparking concerns in the US and other industrial nations about access to supplies and causing a frenzy of exploration and development activity.