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Lynas Corporation (ASX:LYC) to restart operations sooner than expected
  • 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.


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