Exploration spending to stay flat despite Trump pledges, strong gold prices, S&P says
The cautious outlook comes as global exploration budgets for nonferrous metals declined by 3% in 2024.
Australia’s Lynas Rare Earths has withdrawn its application for a judicial review of its operating licence conditions in Malaysia, a Malaysian government lawyer said on Tuesday.
Lynas withdraw the judicial review following the Malaysian government’s decision last month to allow the firm to import raw materials containing natural radioactive material and process rare earths until March 2026, provided it carries out thorium extraction to remove radioactive waste.
The government had previously barred Lynas from importing and processing lanthanide concentrate from January 2024 due to concerns of radiation from cracking and leaching operations.
A Malaysian court recorded the withdrawal with no order as to cost, senior federal counsel Sallehudin Md Ali told Reuters.
Lynas did not immediately respond to requests for comment.
(By Danial Azhar; Editing by Miral Fahmy)
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