The Lynas Corporation Ltd (ASX: LYC) share price may catch a bid this morning after the Malaysia-based rare earths miner flagged comments by the Malaysian prime minister suggesting that the removal of potentially radioactive water leach purification (WLP) residue from the country would not be required as a condition of its Malaysian license renewal.
Instead it's been reported that Lynas will put procedures in place to see it treat and dispose the WLP residue in Malaysia.
Lynas is currently working on plans to build what it calls a 'permanent disposal facility' for the WLP residue, but is still awaiting formal notification regarding new conditions imposed for the renewal of its operating license.
In Malaysia the political and environmental compliance scene is unpredictable and investors or the company are never fully out of the woods.
For the quarter ending June 30 2019 the miner reported an operating cash profit of $104.1 million on sales of $375.9 million. It also had $89.7 million cash on hand, but still retained debt of at least US$145.9 million.
Elsewhere in the mining sector Rio Tinto Limited (ASX: RIO) shares could be in for falls today after the LSE-listed company disappointed with its results overnight.
