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Lynas production recovers in Dec quarter

30th January 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Rare earths miner Lynas has seen both production and sales revenue recover in the three months to December, as water supply disruptions which plagued the company in the first quarter of the 2023 financial year were resolved.

Total rare earth oxide production increased from the 3 500 t produced in the first quarter, to 4 457 t, while neodymium-praseodymium (NdPr) production increased from 1 045 t to 1 508 t.

Sales revenue in the quarter increased from A$163.8-million to A$232.7-million.

CEO Amanda Lacaze told shareholders on Monday that progress on major construction activities accelerated at the Kalgoorlie rare earths processing facility during the quarter, including significant progress on production assets such as earthworks for the construction of the evaporation ponds and embankments, progress on lining the 110 m kiln with bricks, and installation of the kiln generator and facilities including completing the workshop warehouse, control room and maintenance offices.

“The Mt Weld expansion project is progressing as planned with significant progress on detailed engineering design, procurement of long lead time items and award of packages.

“The bulk earthworks contractor mobilised in January and has commenced site works. The chairperson of the Environmental Protection Authority (EPA) and director of EPA Services visited Mt Weld in November. This provided an excellent opportunity to provide detailed briefing on current operations and the minimal impacts associated with the expansion project on site,” Lacaze said.

Lynas in August last year announced a A$500-million capacity expansion at its Mt Weld operation, in Western Australia, which would increase production at Mt Weld from its current 7000 t/y NdPr to 12 000 t/y by increasing the throughput capacity from 300 000 t/y to 1.3-million tonnes a year by 2024, with further uplift plans also in development.

“Lynas continues to focus on increasing production as our customers forecast very strong demand in calendar year 2023. Lynas continues to receive enquiries from potential new customers for future cooperation, mainly from automotive OEMs and new magnet manufacturing projects outside of China,” Lacaze said on Monday.

Edited by Creamer Media Reporter

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