Lynas reported its figures for the quarter ending June on Tuesday (PDF). Compared to the same period last year, sales revenues fell by 13 per cent to the equivalent of 90 million US dollars. The company, which specialises in the mining and processing of rare earths, attributes this to the current low price level for its own products on the one hand and a decline in production on the other. The processing plant in Kalgoorlie, Western Australia, is currently being slowly ramped up as planned, and Lynas also refers to maintenance work at its refinery in Malaysia.
Last month, the company announced that it would be expanding its product portfolio to include dysprosium and terbium. Both elements belong to the group of heavy rare earths, which until now have mainly come from China and Myanmar.
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