Lynas shares up as rare earth concerntrate arrives in Kuantan

Shares in Lynas Corporation jumped after the company advised that rare earth concentrate had arrived for processing at its plant in Gebeng, Pahang.

The company said about 100 containers of rare earths concentrate had arrived in Kuantan and a significant number of those were already at its plant.

"Lynas expects that the first feed to kiln and commencement of operations at the Lynas Advanced Material Plant (LAMP) will occur over the coming days," the company said in a statement.

Lynas said there is nothing preventing it from beginning operations at its plant despite it last week revealing a second round of legal action against it.

The "Save Malaysia, Stop Lynas" group last week lodged a second application with the Kuantan High Court to stop the company securing a temporary operating licence for the facility.

Lynas said at the time the application appeared to be a repeat of an application that was dismissed earlier this month.

"The recent legal proceedings in the Kuantan High Court have not detracted from the ongoing operational preparation of the LAMP for production," Lynas said last week.

The "Save Malaysia, Stop Lynas" group fears Lynas' plant will emit radioactive pollution posing a threat to human health and the environment.

Lynas' shares were up A5.5 cents, or 8.73 per cent, to A68.5 cents.