Low rare earths prices cause drop in Lynas revenue

Rare earths miner Lynas has reported a significant drop in revenue for the three months to March 31, owing to low rare earths prices, which also hinders the miner’s plans to fund improvements at its Lynas Advanced Materials Plant (Lamp) operation, in Malaysia, through cash flows. Sales revenue for the quarter declined from the A$49.5-million reported in the previous quarter, to A$44.5-million, despite rare earth sales volumes remaining relatively unchanged at 3 026 t.