Australia's Lynas plans temporary shutdown of Malaysia ops, shares fall
Australia's Lynas plans temporary shutdown of Malaysia ops, shares fall
Australia's Lynas Rare Earths said on Friday it planned to shut all operations in Malaysia on a temporary basis, except a mixed rare earth carbonate processing plant in the December quarter, with minimal volumes of the raw material processed during the interim shutdown.
The Star reported it as "Lynas bids goodbye to M’sia", but there's no indication the company is fully withdrawing operations in Malaysia.
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lol I've been observing how the various news outlets report this item. Almost all of them demonstrated that they do not understand what's going on. A "shutdown" is basically when a plant stops operations to perform periodic maintenance or upgrading works. Using the word "temporary" is just a cover-ass phrase to say "I think they are going to end businesses (because that's what I think that word means, and also that will bring in the clicks), but their press release says it's not long term...? Let's be safe and cover both cases." Shutdowns are by its very own nature, temporary. It's like saying "permanent death". Inb4 "transitory inflation".
Paling funny is one headline that reads along the lines of "Lynas shuts all operations in Malaysia...". I kek.
Furthermore there's this news. Lynas is not leaving Malaysia any time soon.