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Lynas reports over 50% drop in Q2 revenue

22nd January 2024

By: Reuters

  

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Australia's Lynas Rare Earths on Monday reported a 51.7% drop in second-quarter revenue reflecting a plunge in underlying prices coupled while a planned shutdown of its Malaysian operations which hurt output.

The world's largest producer of rare earths outside China said revenue fell to A$112.5-million ($74.06-million) in the three months to December 31, 2023 compared with A$232.7-million a year ago.

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Edited by Reuters

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