Mining Weekly reported that Lynas Corporation (ASX:LYC) has said it is looking to bring on more long-term offtake agreements in light of customers looking for price predictability.
Lynas Corporation Ltd. (ASX:LYC) released its results for the first quarter of its 2016 fiscal year, which ended on September 30, 2015. The company highlights in its release that it generated AU$1.3 million in free cash flow in the face of tough market conditions.
Times are tough for the rare earths market, but ABC Online reports that Australian rare earth juniors are not giving up quite yet.
AAP reported that the International Atomic Energy Agency (IAEA) has found that Lynas Corporation’s (ASX:LYC) rare earth processing facility in Malaysia poses little radiation risk to those living in the local area. The Lynas Advanced Materials Processing (LAMP) facility has been fairly controversial, with activists and protestors calling for operations
Australia’s Lynas Corporation (ASX:LYC) aimed to reassure investors that the rare earths market has not been going as badly as many have speculated, according to the Australian. Lynas released a statement today in which it addressed what it says is media speculation about the state of the industry.
On Friday, the S&P/ASX 200 rose 29.1 points, or 0.54 percent, to end the week at 5,412.2 points
China was once responsible for over 90 percent of global rare earths production, allowing it to restrict exports and manipulate prices. However, following a WTO ruling against that practice earlier this year and moves to crack down on illegal mining, China’s share of global rare earths production could be dropping.
The share price of Australia’s Lynas Corporation is down 75 percent year-to-date, so investors were no doubt happy to see some positive news in the company’s first-quarter results. But although Lynas reported a respectable increase in both revenues and production, also decreasing its operating costs, it’s still facing some struggles.
Reuters reported that Lynas Corporation (ASX:LYC,FWB:LYI) reported its revenues had increased by 24 percent from the previous quarter. After many delays, the rare earths producer is working to move its Malaysian plant towards full capacity.
Lynas Corporation Ltd. (ASX:LYC) announced that the Malaysian Atomic Energy Licensing Board (AELB) has issued a Full Operating Stage License for its Lynas Advanced Materials Plant (LAMP).
Stocks experienced a major drop today on the Australian sharemarket, but some companies still managed to post gains.
Lynas Corporation Ltd. (ASX:LYC) released its quarterly report for the period ended June 30, 2014, commenting that it achieved its fourth quarter in a row of “increased production and sales volumes.”
The Australian Securities Exchange closed at 5,486.80 points on Friday, up 22.40 points from the previous session.