KUALA LUMPUR – December 13, 2018: Lynas Corporation Ltd. is of the opinion that the latest round of inaccuracies from the government over its operations was due to a lack of face-to-face communication.
The company’s chief executive here, Amanda Lacaze, said so following a letter by Energy, Technology, Environment and Climate Change Minister Yeo Bee Yin to Lynas’s employees which depicts the company in an unsavoury manner.
“Maybe if she talked to us directly and if she visited the plant she would not say that all we care about is the bottom line,” said Lacaze over Yeo’s claim that the company’s alleged refusal to export its residue is a mere business decision.
“Yeo’s message has many inaccuracies. That is because she won’t meet with us or visit the plant but relies on third party comments,” said Lacaze, adding that she will continue to invite Yeo to meet them to solve the impasse.
In backing her claim, Yeo cited an analyst from a Hong Kong-based brokerage, CLSA, who said that the cost to export the residue would only cost about 10 per cent of yearly earnings.
The company’s latest tangle with the ministry happened after the latter ordered it to export its water leached purification (WLP) residue which contradicts an independent review committee’s recommendation that the residue be permanently stored in a permanent depository facility (PDF), which it is currently working on.
In the latest review from the committee formed by the ministry, Lynas earned a favourable verdict and was vindicated from any malpractice but yet the ministry made decisions contradicting its own committee’s findings and recommendations, something which Lynas finds most inappropriate.