Lynas Corporation's (ASX:LYC) Malaysian plant continues halt

15AprApril 15, 2020

Lynas Corporation’s (ASX:LYC) Malaysian plant continues halt

Production at Lynas Corporation's (ASX:LYC) Malaysian plant is set to continue it’s temporary halt for another fortnight after the government extended the imposed Movement Control Order until April 28.

The Malaysian government announced additional categories of exemption for critical industries and Lynas has applied for approval to operate and is awaiting the government’s decision.

The company believes products produced at the Lynas Malaysia plant are essential to the manufacturing supply chains for critical industries in Malaysia, including automotive, medical devices including ventilators.

Shares in Lynas Corporation (ASX:LYC) are trading 2.3 per cent higher at $1.57.

Copyright 2020 – Finance News Network

Source: Finance News Network

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