Quarterly Figures: Malaysia Problems Cost Lynas Time and Money

by | 27. Oct 2022 - 14:23 | Economy

Australian mining group Lynas on Thursday presented figures for the quarter ended September (PDF). Compared to the previous quarter, sales fell from the equivalent of 190.12 million euros to 105.75 million euros. There was also a noticeable decline in the amount of rare earth oxides produced. This was due to production losses as a result of multiple interruptions to the water supply at Lynas’ processing plant in Malaysia. The company had lost a total of 16 days due to these operational problems. However, Lynas cannot complain about a lack of demand for its products, and the company is planning to expand its capacities with a growth program.

Photo: iStock/jasonbennee

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