MELBOURNE :Lynas Rare Earths Ltd said it was focused on getting its new plant in Australia up and running amid concerns its Malaysian facility would have to be partly wound down, as it posted a 4 per cent drop in first-half profit on Monday.The world's biggest producer of rare earths metals outside China face
MELBOURNE :Lynas Rare Earths Ltd said it was focused on getting its new plant in Australia up and running amid concerns its Malaysian facility would have to be partly wound down, as it posted a 4 per cent drop in first-half profit on Monday.
As to whether Lynas could have the plant ready in time to avoid a disruption to supply of those critical rare earths, Chief Executive Officer Amanda Lacaze said past performance was the best indicator of future success. "There is still a lot of uncertainty," said Andy Forster, portfolio manager of top shareholder Argo Investments.
Lynas has suggested that its Kalgoorlie plant will be taking feed in the June quarter, ahead of previous expectations for a July ramp up, Barrenjoey analysts said. Lynas has found a site for its heavy rare earths processing facility in the United States and is working on obtaining approvals.
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