Lynas Back to Earth After Loss

Sydney Morning Herald reported that Lynas Corp.’s (ASX:LYC) posted a larger full-year net loss than in the previous year.

The market news is quoted as saying:

Lynas blamed the widening loss on higher operating costs at its flagship Mount Weld rare-earths mine in Western Australia, as production increased. Lynas’s operating expenses shot up 87.5 per cent from $30.65 million to $57.46 million. It says 11,000 tonnes a year of rare-earth oxides will be produced at Mount Weld.

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