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Australia’s Lynas posts record Q2 revenue on robust demand for rare earths -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This illustration was taken November 19, 2021 and shows a small toy character and an imitation of a mineral in front the Lynas rare Earths logo. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – Australia’s Lynas Rare Earths Ltd reported record revenue for the second quarter on Wednesday. This was due to increased demand for metals for electric cars (EVs), amid a worldwide push for carbon emission reductions.

According to the world’s biggest producer of rare earths, it grew its revenue to A$202.7 Million ($145.58M) during the three-month period ending Dec. 31, from A$119.4M a year ago.

The production of neodymium, praseodymium (NdPr) fell to 1,359 tonnes in 2012 from 1,367 tons a year prior.

($1 = 1.3924 Australian dollars)

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