Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Rare earths mining company Lynas Corporation (LYC) will restart its operations on Monday after lockdown restrictions are lifted
  • The Prime Minister of Malaysia has allowed all economic sectors, which includes manufacturing, mining and services, to reopen
  • Just two days ago, the company said it will remain closed until May 11, due to an extended Movement Control Order
  • However, this new announcement allows for operations to reopening one week earlier
  • On market close, Lynas is down 1.72 per cent and trading for $1.72 per share

Rare earths mining company Lynas Corporation (LYC) will restart its operations on May 4, after lockdown restrictions are lifted.

The Prime Minister of Malaysia has allowed all economic sectors, which includes manufacturing, mining and services to reopen.

Just two days ago, the company said it will remain closed until May 11, due to an extended Movement Control Order. However, this new announcement pushes this one week forward.

Initially, the Control Order was due to expire on March 31, however, was extended three times.

During the lockdown, the facility went into care and maintenance to make sure it was up to scratch for when it reopened.

Lynas said it will provide the market with more information on Monday.

On market close, Lynas is down 1.72 per cent and trading for $1.72 per share.

LYC by the numbers
More From The Market Herald

" Musgrave Minerals (ASX:MGV) finds ‘bonanza’ gold at Big Sky

Musgrave Minerals (MGV) has received more results from drilling at the Big Sky prospect, which is part of its Cue gold project in
Suvo Strategic Minerals (ASX:SUV) - Executive Director, Aaron Banks (left) and Executive Chairman, Robert Martin (right)

" Suvo Strategic Minerals (ASX:SUV) begins drilling at Nova

Suvo Strategic Minerals (SUV) has begun the second phase of drilling at its Nova silica sands project in Western Australia.

" Torian Resources (ASX:TNR) extends Tyrannus gold footprint

Torian Resources (TNR) has extended gold mineralisation at the Tyrannus prospect within the Mt Stirling gold project near Lenora in Western Australia.
Tempus Resources (ASX:TMR) - Non Executive Chairman, Alexander Molyneux

" Tempus Resources (ASX:TMR) hits 33.7g/t gold at Blue Vein

Tempus Resources (TMR) has intersected up to 33.7 grams of gold per tonne (g/t) from the newly discovered Blue Vein.