Lynas Corp Planning to Raise Rare Earth Output

Australia’s Lynas Corporation (ASX:LYC) is planning to raise its rare earth output despite the current price slump, the Wall Street Journal reports.
As quoted in the publication:

To accomplish that goal, the Australian-listed miner plans to do one crucial thing: “Go out there and sell,” said Chief Executive Amanda Lacaze, in an interview.
Lynas, a former market darling, has found it tough to become a major competitor in the global rare-earths market.
The company was founded with an eye to breaking China’s stranglehold on the industry: The world’s second-largest economy has accounted for more than 90% of world-wide supply in recent times. But it took nearly a decade of development before Lynas began operations at its refinery in Malaysia’s Pahang state in late 2012.
Start-up of its processing plant in Malaysia was delayed by repeated legal challenges, and the ramp-up of the plant has since been hindered by technical setbacks and a relentless tumble in rare-earths prices.
Now, after working through reliability issues at its processing facility and restructuring its debts, Ms. Lacaze says it is time for Lynas to invest more in sales and marketing to grow the business.

Click here for the full Wall Street Journal article.