Lynas With Strong Quarterly Performance

by | 30. Jan 2023 - 14:07 | Economy

Lynas today (Monday) reported figures for the second quarter ended December 31, 2022 (PDF). The Australian mining group, which specializes in rare earths, was able to increase sales from the equivalent of 107 million euros to 152 million euros. In addition, production of rare earth oxide and neodymium-praseodymium showed a significant increase. In the previous quarter, Lynas had recorded a decline in production due to problems with the water supply at its processing plant in Malaysia (we reported).

It continues to work on increasing production as customers expect strong demand in calendar year 2023, the Australian company said. In addition, the company said it was receiving repeated inquiries from new customers interested in cooperation, primarily automotive groups and manufacturers of magnets.

Photo: iStock/nattanan726

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