KUALA LUMPUR, Feb 15 —The Ministry of Science, Technology and Innovation Ministry (Mosti) has warned Australian company Lynas that its renewed license for its rare earth refinery in Malaysia might be revoked if it does not comply with four conditions that have been set out by the government.

Its minister Chang Lih Kang confirmed that the Atomic Energy Licensing Board (AELB) has renewed Lynas’s license for another three years starting from March 3 this year to March 3, 2026.

"If Lynas failed to comply with these four conditions imposed on them, the license could be revoked,” he said during a press conference at Parliament today.

His remark came after Lynas announced that the Malaysian government had maintained the conditions that prevented the Australian miner from importing and processed rare earth materials in the country starting July this year.

Chang also said that a permanent disposal facility (PDF) is 32 per cent complete and expected to be operational by this year to manage the radioactive waste produced by Lynas.

"The Unity Government is committed to creating a business-friendly environment and understands the importance of the rare earth industry.

"However, no party has the right to continuously produce radioactive waste in our homeland,” he added.

Yesterday, it was reported that Lynas chief executive officer and managing director Amanda Lacaze has expressed her disappointment over the government’s decision to maintain the conditions.

The four conditions are cracking and leaching activities, the generation of water leach purification (WLP) residues and the importation of lanthanide concentrates from Australia.

She also reportedly said that will consider to proceed with administrative and legal proceedings to ensure that Lynas was treated fairly and equitably as one of Malaysia’s foreign direct investor.