Lynas wins Malaysian rare earth storage extension, shares jump

CANBERRA (Reuters): Australian rare earths miner Lynas Corp said on Monday it has been granted an extension to a temporary permit to store residue at its Malaysian site, pushing its shares up more than 8 percent.

Lynas' Malaysian operations have been under scrutiny by the country's new government over concerns that its six-year-old plant that processes rare earths used in industrial magnets is harmful to the environment.