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LYC - LYNAS RARE EARTHS LIMITED


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Lynas Rare Earths ended the year with a record quarter of revenue and sales receipts, driven by sustained demand for its products and strong market pricing.

 

The company reported quarterly sales revenue of $185.9 million and sales receipts of $192 million.

 

Total rare earth oxide production was 3778 tonnes. Neodynium / praseodymium production of 1393 tonnes was a slight improvement on the preceding quarters.

 

 

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One company that did not suffer in the dramatic selloff today. Only a few cents down. Closed at $8.47

Lynas USA LLC, has signed a follow on contract for approximately US$120 million with the U.S. Department of Defense to establish a first of its kind commercial Heavy Rare Earths (HRE) separation facility in the United States. 

This mutually beneficial contract supports Lynas to establish an operating footprint in the United 
States, including the production of separated Heavy Rare Earth products to complement its Light Rare Earth product suite. As a result, U.S. industry will secure access to domestically produced Heavy Rare Earths which cannot be sourced today and which are essential to the development of a robust supply chain for future facing industries including electric vehicles, wind turbines and electronics.

 

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