Lynas's revenue fell last quarter from a year earlier in an effort to extend its license in Malaysia

Published: Jul 29, 2019 15:08

Save

Lynas Corp Ltd today reported fourth quarter 2019 results (April 1-June 30, 2019), which showed that the company's total rare earth oxide production for the quarter was 4651 tons, down 3.2 per cent from 4804 tons in the same period last year. The sales volume is 4723 tons.

SMM7, 29 March -: Lynas Corp Ltd today reported fourth quarter 2019 results (1 April-30 June 2019), reporting that the company's total rare earth oxide production for the quarter was 4651 tons, down 3.2 per cent from 4804 tons in the same period last year. The sales volume is 4723 tons.

However, the output of neodymium and praseodymium mixed rare earth (NdPr) was 1505 tons, up 4 per cent from a year earlier, compared with 1447 tons in the same period last year.

The company said revenue was A $875 billion (US $60.5 million), down 4.6 per cent from a year earlier and 13.6 per cent from the previous quarter, as a result of falling prices and sales strategies. "Company financial statements

Amanda Lacaze, the company's chief executive, said the company was still in communication with the Malaysian government in the hope of extending its operating license, which expires on Sept. 2, and said it was committed to expanding its business in the downstream industry in Malaysia to promote the development of the rare earth processing industry.

Click to sign up for this summit

"Click to sign up for this summit

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

Rare earths supply and demand market production capacity

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

17 mins ago

Iluka Reports Zircon Production Drop, Advances Eneabba Rare Earth Refinery Project

[SMM Rare Earth Express] Australian heavy mineral producer Iluka Resources released its April-June quarterly report, showing that due to the slower-than-expected capacity ramp-up at the Balranald mine, the company's zircon production dropped 30% YoY to 26,000 mt. However, as zircon prices rebounded from lows, the company drew on inventory to support sales, with zircon sales up 43% YoY. In rare earths business, the construction progress of Iluka's Eneabba rare earth refinery in Western Australia was approaching 60%. The project has a designed annual capacity of 23,000 mt and a total investment budget of A$1.8 billion, of which A$1.1 billion (approximately $770 million) has been invested. It is expected to commence production in mid-2027. Once completed, the refinery will be able to process both light and heavy rare earths, producing key elements for permanent magnetic materials such as neodymium, praseodymium, dysprosium, and terbium, and is expected to enhance Australia's processing capacity in the global rare earth supply chain.

17 mins ago

41 mins ago

[SMM Rare Earth Morning Meeting Summary] Pr-Nd Oxide Falls Below 750,000 Mark, Scrap Recycling Procurement Difficulty Increases.

[Pr-Nd oxide fell below the 750,000 CNY/ton mark, making scrap recycling procurement more difficult] Yesterday, affected by fluctuations in futures prices, offers for Pr-Nd oxide in the market pulled back further after the afternoon session. Suppliers, with poor inventory positions, showed low willingness to quote at low prices, while downstream metal plants maintained a strong wait-and-see sentiment, leading to poor Pr-Nd market transactions. In the medium-heavy rare earth sector, downstream demand remained persistently weak, but supplier quotations stayed firm, keeping dysprosium oxide and terbium oxide prices stable.

41 mins ago

57 mins ago

Sweden Elevates Rare Earth Minerals to National Security, Unveils New Mining Strategy

[SMM Rare Earth Flash] The Swedish government announced that it has elevated the development of rare earth and other critical minerals to the level of national security and formulated a new mining strategy to expedite project approvals, attract investment, and enhance the supply security of critical minerals for Sweden, the EU, and NATO. The Per Geijer rare earth mine near Kiruna, operated by Swedish state-owned miner LKAB, is a key EU project with ore resources of about 1.2 billion mt, containing 2.2 million mt of rare earth oxides. Swedish Deputy Prime Minister and Minister for Energy and Business, Ebba Busch, said the new strategy will expedite planning permits and explore the establishment of a state-owned investment company to support mining development, providing more funding and land security for key projects.

57 mins ago