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AAP reported this week that Lynas Corporation (ASX:LYC) has cut down its full year losses. It reported a net loss of $118.6 million in the year ended June 30 2015, compared to $345.4 million the year previous.
AAP reported this week that Lynas Corporation (ASX:LYC) has cut down its full year losses. It reported a net loss of $118.6 million in the year ended June 30 2015, compared to $345.4 million the year previous.
As quoted in the publication:
The struggling miner has been forced to carry out a review of its operations and cut expenses, including by way of closing its Sydney operations, reducing its workforce, making changes to its debt agreements and renegotiating supplier contracts.
Lynas said it had achieved cost reductions of over $40 million a year, helping the business report positive cash flow in the fourth quarter.
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