Lynas Corp Says Rare Earths Market Not So Bad

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.

According to the Australian:

China’s stranglehold is breaking, with the World Trade Organisation recently ruling that its export tariffs were unlawful. But Lynas said there had been no variation to its position from last month’s quarterly report, when it posted increases in production volumes and sales revenue, and a fall in production costs.

“Having received the full $83 million (less costs) from the recent equity raising, we are looking confidently to the future,” chief executive Amanda Lacaze said.

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