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Lynas Reports Increased Revenue as Production Ramps Up
Oct. 16, 2014 08:10AM PST
Rare Earth InvestingReuters 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.
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.
As quoted in the publication:
Production rose to 2,043 tonnes of rare earths oxides in the first quarter of the 2015 financial year, Lynas said on Wednesday, which was more than half the volume it produced in the whole of the previous year.
Revenue rose to A$32.9 million ($28.7 million) in the September quarter from A$26.5 million in the June quarter, while costs fell 14 percent to A$42.7 million, including restructuring costs.