The Sydney Morning Herald reported that Lynas Corporation Ltd. (ASX:LYC) anticipates that production will begin at its Malaysian rare earth plant in December. Revenue from production is expected in the first quarter of 2013.
As quoted in the market news:
“I know this has been a testing year for everyone,” executive chairman Nicholas Curtis told the company’s annual general meeting in Sydney on Tuesday.
“It has been a year when the noise around the company has reached an amplitude that is, quite frankly, not sustainable and very negative for us all.
“But, I have to say that short-term share market performance is not our main focus as management of Lynas.
“One to two tough years to bring the business to life need to be put in the context of the long-term vision we are realising.
“Attention investors: China is tightening its grips on the rare earth industry forcing plant closures on illegal mining. Find out how to take advantage of this trend.”
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