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

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