Rare earth miner holds steady as pricing shows signs of recovery
Lynas Rare Earths kicked off the new financial year with a steady income compared to 12 months earlier, despite lower sales, thanks to a slight recovery in pricing for its products.Year-on-year sales receipts were steady at US$128 million from lower production, down from 3609 tonnes rare earth oxide to 2722t, but its higher-valued NdPr output rose from 1526t to 1677t.Revenue was down from $137 million in the June quarter to $128 million.
"Market is still not our friend, but the trend is good even if the trajectory is modest," Lacaze said.She noted prices generally "go up in small steps and come down in an elevator". With small but steady prices rising for REE products after lows earlier this year, Lynas should be well placed for demand and price recovery.
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