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defence|design|engineering|projects

Lynas reports record revenues

26th July 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Rare earths miner Lynas has reported record sales revenues for the quarter ended June, on the back of strong market pricing.

The ASX-listed company on Monday noted that sales revenue for the three months to June reached A$184.9-million, up from the A$110-million reported in the fourth quarter.

Total rare earth oxide production was down from the 4 463 t produced in the previous quarter, to 3 778 t, while neodymium-praseodymium (NdPr) production was fairly consistent at 1 393 t, compared with the 1 359 t produced in the previous quarter.

Sales volumes for rare earth oxides during the quarter increased from the 3 096 t sold in the third quarter, to 4 758 t, with the average selling price also increasing from A$35.50/kg to A$39.10/kg.

“The achievements of our Malaysian team have been absolutely outstanding over the full duration of the pandemic and in the past quarter in particular,” said CEO Amanda Lacaze.

She noted that progress has continued on the Lynas 25 projects, including the rare earth processing facility in Kalgoorlie, and the proposed integrated US rare earths processing facility.

“Detailed engineering and design work for the heavy rare earths facility was submitted to the US government in line with the US Department of Defence (DoD) Phase 1 milestones. The DoD is now conducting a merit evaluation of the submission,” Lacaze said.

Edited by Creamer Media Reporter

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