Low rare earths prices cause drop in Lynas revenue

April 29, 2016

Responsive image

Rare earths miner Lynas has reported a significant drop in revenue for the three months to March 31, owing to low rare earth prices, which also hinders the miner’s plans to fund improvements at its Lynas Advanced Materials Plant (Lamp) operation, in Malaysia, through cash flows.

Sales revenue for the quarter declined from the A$49.5-million reported in the previous quarter, to A$44.5-million, despite rare earth sales volumes remaining relatively unchanged at 3 026 t.

Category: General