Lynas: Decline in Sales, but Positive Outlook

by | 24. Apr 2024 - 10:02 | Economy

CEO Lacaze sees rising prices for rare earths.

Lynas reports (PDF) a sales decline of almost 30 percent for the quarter ending March. The Australian group, which specializes in rare earths, attributes the development to the low price level for this raw materials group and to the company’s decision to sell less material from its own stock against this backdrop. According to Lynas, the price environment has improved since April. One reason for this is that the Chinese economy continues to gain momentum, said CEO Amanda Lacaze at the presentation of the quarterly figures.

The company appears to be prepared for a resurgence in demand, as production has increased significantly following modernization measures at the Malaysian refinery. Meanwhile, the construction of a refinery in Australia is making progress. However, construction is becoming more expensive. The first earthworks for a rare earth processing plant in the United States are also expected to take place at the end of this year.

Photo: iStock/slovegrove

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