Photo by: Bloomberg
PERTH (miningweekly.com) – Australian rare earths miner Lynas has narrowed its loss for the half-year ended December 31, on the back of increased revenues.
ASX-listed Lynas this week reported that the gross loss for the period had decreased from the A$19.3-million reported at the end of 2015, to A$2.9-million, on the back of revenues having increased from A$93.2-million to A$114.6-million.
Earnings before interest and taxes decreased by A$20.9-million, compared with the previous corresponding period, in part due to an increase in sales, Lynas reported.
Mineral sands production for the first half of the 2017 financial year reached 2 506 t, which was up from the 1 905 t produced in the same period last year, with total ready-for-sale production of rare earth oxide at 7 579 t, compared with 6 337 t in the previous corresponding period.